If Demand Is Perfectly Elastic

question 3

Multiple Choice

If demand is perfectly elastic,

• A)then a 1% increase in price leads to a fall in quantity of greater than 1%.
• B)then a 1% increase in price leads to a fall in quantity of less than 1%.
• C)then a 1% increase in price causes quantity demanded to fall to zero.
• D)then a 1% increase in price has no effect on quantity demanded.

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