Multiple Choice
Technically the elasticity number is negative because
A) When price falls quantity demanded will rise,but for simplicity economists take the absolute value of the elasticity number.
B) When price falls quantity demanded will fall,but for simplicity economists take the absolute value of the elasticity number.
C) When price rises quantity demanded will rise,but for simplicity economists take the absolute value of the elasticity number.
Correct Answer:
Verified
Correct Answer:
Verified
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