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If the Quantity Demanded of a Certain Good Responds Only

Question 58

Multiple Choice

If the quantity demanded of a certain good responds only slightly to a change in the price of the good,then


A) the demand for the good is said to be elastic.
B) the demand for the good is said to be inelastic.
C) the law of demand does not apply to the good.
D) the demand curve for the good shifts only slightly in response to a change in price.

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