At High Price Levels,demand Tends to Be ________ and the Price

question 76

Multiple Choice

At high price levels,demand tends to be ________ and the price effect is ________,relative to the output effect.

• A) inelastic; small
• B) inelastic; large
• C) elastic; small
• D) elastic; large
• E) inelastic; insignificant

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Definitions:

Form W-2

Form W-2 is an IRS tax form used in the United States to report wages paid to employees and the taxes withheld from them.

Form W-3

A tax form used in the United States to transmit a summary of W-2 forms to the Social Security Administration.

Deposit

A sum of money placed in an account or with a party as a part of a financial transaction, often securing a service or as a part of a purchase agreement.

W-2 Form

An annual tax form used in the United States to report wages paid to employees and the taxes withheld from them.