Which of the following is not characteristic of the demand for a commodity that is elastic?
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Business, 14.11.2019 20:31 ymuttmutt3890
Which of the following is not characteristic of the demand for a commodity that is elastic?
a) the elasticity coefficient is greater than one
b) buyers are relatively insensitive to price changes.
c) total revenue increases if price is decreased
d) the relative change in price is smaller then the relative change in quantity demanded.
Answers: 1
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