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Suppose that a given percentage change in price leads to a percentage change in quantity demanded that is smaller than the percentage change in price.
Suppose that a given percentage change in price leads to a percentage change in quantity demanded that is smaller than the percentage change in price. The product must be _______. Select the correct answer below: inelastic elastic unitary elastic all of the above
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Economics
Authors: Paul A. Samuelson, William Nordhaus
19th edition
978-0073511290, 73511293, 978-0073344232, 73344230, 978-007351129
