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If the Quantity Demanded of a Certain Good Responds Only

Question 263

Multiple Choice

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


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

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