Question
If demand for a given good is perfectly elastic, it follows that as price changes, quantity demanded does not change. as price changes, quantity demanded
If demand for a given good is perfectly elastic, it follows that
as price changes, quantity demanded does not change.
as price changes, quantity demanded changes by a larger percentage.
as price changes by the tiniest percentage we can imagine, quantity demanded falls to zero.
as income changes only a small percentage, quantity demanded changes by a very large percentage.
none of the above
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
