When consumer demand is sensitive to price changes,__________occurs
Fill in the blanks with correct word.
ANSWER: elastic demand
When consumer demand is sensitive to price changes, elastic demand occurs. Conversely, inelastic demand means that an increase or a decrease in price will not significantly affect demand for the product.
Business
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In the Paul v. Virginia decision, the U.S. Supreme Court decided that Paul was legally an agent of the state of Virginia
Indicate whether the statement is true or false
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