Demand is elastic when . ( LO1 ) a) percentage change in price is greater than percentage

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Demand is elastic when . ( LO1 )

a) percentage change in price is greater than percentage change in quantity

b) percentage change in quantity is greater than percentage change in price

c) the demand curve is vertical

d) price increases raise total revenue

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Economics

ISBN: 125375

10th Edition

Authors: Stephen Slavin

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