If demand is perfectly elastic,it follows that
A) as price changes, quantity demanded does not change.
B) as price changes, quantity demanded changes by a larger percentage.
C) as price changes only a small percentage, quantity demanded falls to zero.
D) as income changes only a small percentage, quantity demanded changes by a very large percentage.
E) none of the above
Correct Answer:
Verified
Q122: Exhibit 20-7 Q126: If demand is elastic,then a given percentage Q128: A Broadway play company can only charge Q129: Demand is elastic,which means that the percentage Q130: Demand is inelastic,so it follows that if Q131: If total revenue does not change as Q132: If total revenue falls as a result Q142: As the price of good X rises Q151: If, as the price of good Y Q159: If the seller of good X raises
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