Which of the Following Statements Is False Regarding Price Elasticity

question 40

Multiple Choice

Which of the following statements is false regarding price elasticity?

• A) The impact of price changes on sales volume is defined as price elasticity.
• B) Demand is elastic if a price increase has a large negative impact on sales volume.
• C) Demand is elastic if price changes have no impact on sales quantity.
• D) Demand is inelastic if price changes have little or no impact on sales quantity.

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