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Refer to the Diagram

Question 340

Multiple Choice

Refer to the diagram. In the P₁ to P₂ price range, we can say A) that consumer purchases are relatively insensitive to price changes. B) nothing concerning price elasticity of demand. C) that demand is inelastic with respect to price. D) that demand is elastic with respect to price. Refer to the diagram. In the P₁ to P₂ price range, we can say


A) that consumer purchases are relatively insensitive to price changes.
B) nothing concerning price elasticity of demand.
C) that demand is inelastic with respect to price.
D) that demand is elastic with respect to price.

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