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The Larger the Coefficient of Price Elasticity of Demand for a Product

Question 390

Multiple Choice

The larger the coefficient of price elasticity of demand for a product, the


A) larger the resulting price change for an increase in supply.
B) more rapid the rate at which the marginal utility of that product diminishes.
C) less competitive will be the industry supplying that product.
D) smaller the resulting price change for an increase in supply.

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