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If a Product Is Said to Have a Price Inelastic

Question 5

Multiple Choice

If a product is said to have a price inelastic demand curve, what does this mean?


A) If you put the price up, sales will stay the same
B) If you the price down, sales volume will fall
C) If you change the price, sales volume will change very little
D) To sell more products, you should raise the price
E) To make more sales revenue, you should lower the price

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