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If consumers respond relatively a lot to a small change in price, the good would be considered . If consumers respond relatively a small amount
If consumers respond relatively a lot to a small change in price, the good would be considered . If consumers respond relatively a small amount to a change in price, the good would be considered . If the price increases by 10% but consumers don't reduce their quantity demanded at all, the good would be considered . If the price increases by 5% and consumers reduce their consumption to 0, the good would be considered
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