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    Microeconomics Study Set 25
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    Exam 6: Elasticity
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    If a 20% Price Increase Generates a 20% Decrease in Quantity
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If a 20% Price Increase Generates a 20% Decrease in Quantity

Question 16

Question 16

Multiple Choice

If a 20% price increase generates a 20% decrease in quantity demanded,then this is a(n) _____ response.


A) inelastic
B) elastic
C) unit-elastic
D) perfectly elastic

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