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A price of of demand of 1.5 means that: A) demand is inelastic. B) quantity demanded changes 1.5 units for each 1% change in price.

A price of of demand of 1.5 means that: A) demand is inelastic. B) quantity demanded changes 1.5 units for each 1% change in price. C) quantity demanded changes 1.5% for each 1% change in price. D) quantity demanded changes 15% for each 1% change in price

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