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The Smaller the Price Elasticity of Demand, the

Question 132

Multiple Choice

The smaller the price elasticity of demand, the


A) steeper the demand curve will be through a given point.
B) flatter the demand curve will be through a given point.
C) more strongly buyers respond to a change in price between any two prices P1 and P2.
D) smaller the decrease in equilibrium price when the supply curve shifts rightward from S1 to S2.

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