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With a Fixed Level of Farm Production, a Given Shift

Question 139

Multiple Choice

With a fixed level of farm production, a given shift in demand for a crop will cause a


A) small price change if demand is quite inelastic.
B) more dramatic price change if demand is quite elastic.
C) more dramatic price change if demand is quite inelastic.
D) similar amount of price change regardless of whether demand is elastic or not.

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