A Price Inelastic Demand Exists If a 10 Percent Change

question 206

Multiple Choice

A price inelastic demand exists if a 10 percent change in the price of a good results in a percentage change (in absolute value terms) in quantity demanded that is:

• A) less than 0.
• B) greater than 0 but less than 10.
• C) equal to 10.
• D) greater than 10.

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