Multiple Choice
For demand to be elastic,
A) the percentage change in quantity demanded must be greater than the associated percentage change in price.
B) demand must change with a change in price.
C) the percentage change in quantity demanded must be less than the associated percentage change in price.
D) the percentage change in quantity demanded must be equal to the associated percentage change in price.
E) quantity demanded must change with a change in price.
Correct Answer:
Verified
Correct Answer:
Verified
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