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The Demand for a Good Is Elastic

Question 118

Multiple Choice

The demand for a good is elastic.This means that if there is a 10% change in price of this good,________.


A) the quantity demanded will change more than 10%
B) the quantity demanded will change less than 10%
C) the quantity demanded will change 10% as well
D) the quantity demanded will not change at all

Correct Answer:

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