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Absolute Price Elasticities Are Calculated for Four Goods, and the Values

Question 224

Multiple Choice

Absolute price elasticities are calculated for four goods, and the values are: 0.009; 1.0; 3.5; and 4. Which indicates the most price-responsive situation?


A) 0.009
B) 1.0
C) 3.5
D) 4.0

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