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anhsu anhsu
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5 years ago

Question 1.

Moving up a straight-line demand curve, the absolute price elasticity of demand

• varies in uncertain ways.

• increases.

• remains constant.

• decreases.

Question 2.

If the absolute price elasticity of demand for a product is greater than 1, then

• the absolute price elasticity of demand is inelastic and consumers are relatively sensitive to price changes.

• the absolute price elasticity of demand is elastic and consumers are relatively insensitive to price changes.

• the absolute price elasticity of demand is inelastic and consumers are relatively insensitive to price changes.

• the absolute price elasticity of demand is elastic and consumers are relatively sensitive to price changes.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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Matt. D.Matt. D.
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5 years ago
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anhsu Author
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5 years ago
Good timing, thanks!
julymontalvo
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Yesterday
Brilliant ツ
jmelchor77
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2 hours ago
Helped a lot
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