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If Demand Is Elastic and the Price of a Product

Question 247

Multiple Choice

If demand is elastic and the price of a product decreases by 10 percent, then


A) the change in quantity demanded is less than 10 percent.
B) the change in quantity demanded is equal to 10 percent.
C) the change in quantity demanded is greater than 10 percent.
D) the decrease in quantity demanded is greater than 0 percent.

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