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If a 15 Percent Reduction in the Price of Electricity

Question 110

Multiple Choice

If a 15 percent reduction in the price of electricity per kilowatt hour has no impact on the total electricity consumption,we can infer that in the short run,the demand for electricity is _____.


A) perfectly inelastic
B) perfectly elastic
C) unitary elastic
D) relatively inelastic
E) relatively elastic

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