Multiple Choice
If the demand for computers is elastic,this means that
A) the price elasticity of demand for computers is greater than 1.
B) a 1% increase in the price of computers results in a less than 1% decrease in computer sales.
C) few substitutes exist for computers.
D) computers are not a necessity.
E) computers are a common appliance.
Correct Answer:
Verified
Correct Answer:
Verified
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