An increase in demand will cause a relatively small increase in price when
A) the increase in demand is large.
B) demand is highly elastic.
C) supply is highly inelastic.
D) all of the above
Correct Answer:
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Q237: If the price elasticity of supply is
Q238: If the price elasticity of supply is
Q239: Q240: If supply is perfectly elastic, the price Q241: Suppose that the percentage change in demand Q243: Suppose that the percentage change in demand Q244: If the quantity supplied is infinitely responsive Q245: If the quantity supplied is perfectly inelastic Q246: Suppose that the percentage change in supply Q247: A vertical supply curve is infinitely elastic.
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