Multiple Choice
When can a service be said to be price-elastic?
A) Where a large increase in price has the effect of a large increase in sales.
B) Where a large decrease in price has the effect of a small increase in sales.
C) Where a small decrease in price has the effect of a large increase in sales.
D) Where a small increase in price has the effect of a small increase in sales.
E) Where a small increase in price has the effect of a small decrease in sales.
Correct Answer:
Verified
Correct Answer:
Verified
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