Business, 20.04.2020 22:10 laylay7383

Elastic demand exists when:

A. a small percentage decrease in price produces a smaller percentage increase in g demanded and total revenue falls.
B. a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
C. An increase in price causes a larger increase in quantity demanded and total revenue falls to zero. unchanged. demanded and total revenue increases.
D. the quantity demanded remains the same regardless of level of price and total revenue is
E. a small percentage decrease in price produces a smaller percentage decrease in quantity

Answers: 2

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Elastic demand exists when:

A. a small percentage decrease in price produces a smaller p...