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All of the Following Statements Except One Are Correct Concerning

Question 63

Multiple Choice

All of the following statements except one are correct concerning a product which has an elastic demand.Which is the exception?


A) Any relative change in price is greater than the relative change in quantity.
B) Buyers are relatively sensitive to price changes.
C) The elasticity coefficient is greater than one.
D) Total revenue rises if price decreases.

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