Demand is inelastic if
A) the percentage change in quantity is greater than the percentage change in price.
B) the elasticity of demand is less than 1.
C) the demand for the good is sensitive to changes in price.
D) more units will be purchased if the price increases.
Correct Answer:
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Q52: Cross elasticity is defined as the _.
A)percentage
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A)horizontal.
B)vertical.
C)upward sloping.
D)downward
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