

MCQOPTIONS
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1. |
Demand is said to be inelastic when |
A. | Percentage change in demand is less than the percentage change in price of the good |
B. | Percentage change in demand is greater than the percentage change in price of the good |
C. | Percentage change in demand is equal to the percentage change in price of the good |
D. | None of the above |
Answer» B. Percentage change in demand is greater than the percentage change in price of the good | |