When the Price Elasticity of Demand Is Large, Then

question 88

Multiple Choice

When the price elasticity of demand is large, then

• A) the product is more likely to be a necessity.
• B) the responsiveness of quantity demanded to a change in price is small.
• C) the percentage change in price divided by the percentage change in quantity demanded is large.
• D) the responsiveness of quantity demanded to a change in price is large.

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