Multiple Choice
If the demand curve over a certain range is "price elastic," this implies that the:
A) percentage change in the quantity demanded exceeds one.
B) percentage change in the quantity demanded exceeds the percentage change in product price.
C) percentage change in price exceeds the percentage change in quantity demanded.
D) product is non-reactive.
E) product has no good substitute.
Correct Answer:
Verified
Correct Answer:
Verified
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