The less sensitive quantity demanded is to a change in price, the
A) smaller a change in price must be to induce a certain change in quantity demanded.
B) greater the absolute price elasticity of demand.
C) smaller the absolute price elasticity of demand.
D) closer the absolute price elasticity of demand is to one.
C
Economics
You might also like to view...
If the marginal propensity to save is 0.35, the multiplier is 2.86
Indicate whether the statement is true or false
Economics
The level of potential GDP does not change because the factors determining potential output are fixed in the short run
Indicate whether the statement is true or false
Economics