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    Microeconomics A Contemporary Introduction Study Set 1
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    Exam 5: Elasticity of Demand and Supply
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    Exhibit 5-24 Refer to Exhibit 5-24
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Exhibit 5-24 Refer to Exhibit 5-24

Question 71

Question 71

Multiple Choice

Exhibit 5-24 Exhibit 5-24   Refer to Exhibit 5-24.The demand curve that best illustrates how consumers will respond to a change in price over a very long time period is: A) curve D(1)  B) curve D(2)  C) curve D(4)  D) curve D(3)  E) either curve D(1) or D(4) Refer to Exhibit 5-24.The demand curve that best illustrates how consumers will respond to a change in price over a very long time period is:


A) curve D(1)
B) curve D(2)
C) curve D(4)
D) curve D(3)
E) either curve D(1) or D(4)

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