If quantity demanded responds substantially to a relatively small change in price, demand is: If quantity demanded responds substantially to a relatively small change in price, demand is: A. price-inelastic. b. positively sloped. C. insensitive to changes in price. D. price-elastic.
If quantity demanded responds substantially to a relatively small change in price, demand is: If quantity demanded responds substantially to a relatively small change in price, demand is: A. price-inelastic. b. positively sloped. C. insensitive to changes in price. D. price-elastic.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 2SQ
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If quantity demanded responds substantially to a relatively small change in price, demand is:
If quantity demanded responds substantially to a relatively small change in price, demand is:
A. price-inelastic.
b. positively sloped.
C. insensitive to changes in price.
D. price-elastic.
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