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When the percentage change in price is greater than the resulting percentage change in quantity demanded multiple choice?

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When the percentage change in price is greater than the?

Glossary
Elastic Demand
The demand when the percentage change in quantity demanded is greater than the percentage change in price. Quantity demanded changes proportionately more than price changes.
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When the percentage change in price is greater than the resulting percentage change in quantity quizlet?

When the percentage change in price is greater than the resulting percentage change in quantity demanded: an increase in price will increase total revenue.

When the percentage change in quantity demanded is greater than the percentage change in price of the commodity the demand for the commodity is said to be?

(iv) More than unit elastic demand (ed >1): When the percentage change in quantity demanded of a commodity is more than the percentage change in its price, the demand for the commodity is called more than unit elastic or highly elastic (see table 16.4).

When the percentage change in the quantity demanded is greater than the percentage change in price then price elasticity of demand is quizlet?

Demand is elastic when the percentage change in quantity demanded is greater than the percentage change in price, So the price elasticity is greater than 1 in absolute value.

percentage change price greater resulting percentage change quantity demanded multiple choice

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