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Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800 Exercise 4
Demand is elastic when ________
A) percentage change in price is greater than percentage change in quantity
B) percentage change in quantity is greater than percentage change in price
C) the demand curve is vertical
D) price increases raise total revenue
A) percentage change in price is greater than percentage change in quantity
B) percentage change in quantity is greater than percentage change in price
C) the demand curve is vertical
D) price increases raise total revenue
Explanation
Verified
Verified
Elastic demand means that a small change...
Economics 11th Edition by Stephen Slavin
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