Absolute Price Elasticities Are Calculated for Four Commodities, and the Values

question 100

Multiple Choice

Absolute price elasticities are calculated for four commodities, and the values are: 0.009; 1.0; 3.3; and 4.1. Which indicates the most price-responsive situation?

• A) 0.009
• B) 1.0
• C) 3.3
• D) 4.1

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