Multiple Choice
Assume the demand for a good is price inelastic,i.e.,ed < 1 (in absolute value) .This means that if price decreases by 50 percent,quantity demanded will:
A) increase by more than 50 percent.
B) decrease by more than 50 percent.
C) increase by less than 50 percent.
D) decrease by less than 50 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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