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The President of a Major Nickel-Producing Company Says That an Increase

Question 75

Multiple Choice

The president of a major nickel-producing company says that an increase in the price of nickel would have no effect on the total amount spent on nickel.If this is true,the price elasticity of demand for nickel is


A) more than one.
B) exactly one.
C) less than zero.
D) infinitely elastic.
E) not calculable from the information given.

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