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If the Absolute Value of the Price Elasticity of Demand

Question 45

Multiple Choice

If the absolute value of the price elasticity of demand for good X is greater than 1, then:


A) X is a complementary good.
B) X is a substitute good.
C) X is an superior good
D) demand for X is said to be inelastic.
E) demand for X is said to be elastic.

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