Multiple Choice
An elastic demand curve is one for which:
A) the absolute change in price is smaller than the absolute change in quantity demanded
B) a given percentage change in price causes a larger percentage change in quantity demanded
C) the absolute change in price is bigger than the absolute change in quantity demanded
D) a given percentage change in price causes a smaller percentage change in quantity demanded
E) the absolute changes in price and quantity demanded are the same
Correct Answer:
Verified
Correct Answer:
Verified
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