Multiple Choice
If the bauxite exporting countries form a cartel to boost the price of bauxite so as to increase sales revenue,they believe that the demand for bauxite:
A) Is inelastic with respect to price changes
B) Is elastic with respect to price changes
C) Will increase in response to a price increase
D) Will not change in response to a price change
Correct Answer:
Verified
Correct Answer:
Verified
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