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Question 9 For a particular good, an 8 percent increase in price causes a 4 percent decrease in quantity demanded. Which of the following statements

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Question 9 For a particular good, an 8 percent increase in price causes a 4 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good? O there are many close substitutes for this good The good is a luxury The market for the good is broadly defined The relevant time horizon is long

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