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Elastic Demand Exists When

Question 143

Multiple Choice

Elastic demand exists when


A) a small percentage decrease in price produces a smaller percentage increase in quantity demanded.
B) a small percentage decrease in price produces a larger percentage increase in quantity demanded.
C) an increase in price causes a larger increase in quantity demanded.
D) the quantity demanded remains the same regardless of level of price.
E) no change in price produces a small percentage change in quantity demanded.

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