Gabbyandarchie8691 Gabbyandarchie8691

14-03-2024
Business

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If the price elasticity of demand is smaller than 1,
a) the price of the good responds substantially to changes in demand.
b) demand shifts substantially when income or the expected future price of the good changes.
c) the quantity demanded responds substantially to changes in price.
d) the quantity demanded does not respond substantially to changes in price.

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