Multiple Choice
If the price elasticity of demand for a product measures 0.45,then:
A) this good has many available substitutes.
B) this good must be a non-essential good.
C) this good is a high-priced good.
D) a decrease in price will increase total revenue.
E) this good is demand price inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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