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Quickly If the price elasticity of demand is less than 1 , then a fall in price: Select one: a. Reduces costs b. Increases revenue

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If the price elasticity of demand is less than 1 , then a fall in price: Select one: a. Reduces costs b. Increases revenue c. Leaves revenue unchanged d. Reduces revenue Question 12 Not yet answered Marked out of 1.00 P Flag_question Goods tend to be more inelasic. Select one: a. In the short run b. If it has a high share in family expenditures c. In the long run. d. If there are close substitutes

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