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Loraine Loraine
wrote...
Posts: 4563
8 years ago
If the demand for a good is elastic, then
A) people do not change the quantity they demand when the price of the good changes.
B) a change in price leads to a smaller percentage change in the quantity demanded.
C) people substantially decrease the quantity of the good they buy if its price increases by a small percentage.
D) a change in the quantity demanded is smaller than the change in price.
E) the quantity demanded divided by the price exceeds 1.00.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 265 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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wrote...
8 years ago
C
wrote...
8 years ago
My pleasure Happy Dummy
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