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-When the Price Elasticity of Demand Is Large in Magnitude,a

Question 28

Multiple Choice

-When the price elasticity of demand is large in magnitude,a _____ increase in the price leads to a _____ reduction in the amount purchased and the demand curve is relatively ______. A) Slight; substantial; steep B) Slight; slight; flat C) Large; slight; steep D) Slight; substantial; flat
-When the price elasticity of demand is large in magnitude,a _____ increase in the price leads to a _____ reduction in the amount purchased and the demand curve is relatively ______.


A) Slight; substantial; steep
B) Slight; slight; flat
C) Large; slight; steep
D) Slight; substantial; flat

Correct Answer:

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