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Price Inelasticity Is When _________ While Price Elasticity Is When

Question 37

Multiple Choice

Price inelasticity is when _________ while price elasticity is when __________.


A) Prices cannot be negotiated; consumers can negotiate a price
B) Consumers can negotiate a price; prices cannot be negotiated
C) The supply/demand curve is followed; consumers buy a product regardless of cost
D) Consumers buy a product regardless of cost; the supply/demand curve is followed
E) Prices change frequently; prices are relatively stable

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