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Which of the following statements regarding price elasticity is false? Demand is elastic if price changes have no impact on sales volume. Demand is relatively

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Which of the following statements regarding price elasticity is false? Demand is elastic if price changes have no impact on sales volume. Demand is relatively inelastic if price changes have little impact on sales quantity The concept of price elasticity is an extension of the economic pricing model. Demand is elastic if a price change has a large negative impact on sales volume

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