ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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QUESTION 17
If the demand for product X is inelastic, a 4 percent increase in the price of Xwill
O A. decrease the quantity of X
demanded by more than 4 %
O B. decrease the quantity of X Oc.increase the quantity of
demanded by less than 4%
X demanded by less than
4%
D. increase the quantity
of X demanded by
more than 4%%
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Transcribed Image Text:QUESTION 17 If the demand for product X is inelastic, a 4 percent increase in the price of Xwill O A. decrease the quantity of X demanded by more than 4 % O B. decrease the quantity of X Oc.increase the quantity of demanded by less than 4% X demanded by less than 4% D. increase the quantity of X demanded by more than 4%%
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