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Cliff runs a factory that supplies windshield wiper blades to General Motors and Ford. A sudden jump in the price of rubber and its substitutes
Cliff runs a factory that supplies windshield wiper blades to General Motors and Ford. A sudden jump in the price of rubber and its substitutes has forced Cliff and other wiper blades manufacturers to double the price of the wiper blades. Cliff is relieved to discover his sales volume has not been affected much by this increase in price. You would explain to Cliff that this is because the demand for wiper blades is: Group of answer choices Price inelastic Price secure Price bundled Price elastic An inverse demand
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