Demand is relatively elastic when the percentage change in price exceeds the percentage change in quantity demanded.
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Q1: Price elasticity can be computed for demand
Q2: If a 1 percent change in price
Q4: Demand is relatively inelastic when the percentage
Q5: If two demand curves intersect, the flatter
Q6: If motorists decrease their gasoline consumption by
Q7: If there is a rightward shift in
Q8: A freeze would result in higher total
Q9: The demand for a product is more
Q10: The demand for a product tends to
Q11: When the price of gasoline rises, the
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