josiesolomonn1347 josiesolomonn1347

14-12-2022
Business

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Which of the following applies if the demand for a good is inelastic?
a. The elasticity of demand is greater than one
b. Consumers are relatively responsive to the changes of price.
c. The percentage change in the quantity demanded is less than the percentage change in the price.
d. The percentage change in the quantity demanded is less than the percentage change in the income.

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