f the demand for product X is inelastic, a 4 percent increase in the price of X will OA. decrease the quantity of X demanded by more than 4 % O B. decrease the quantity ofX demanded by less than 4% O C. increase the quantity of X demanded by less than O D. increase the quantity of X demanded by 4% more than 4%

f the demand for product X is inelastic, a 4 percent increase in the price of X will OA. decrease the quantity of X demanded by more than 4 % O B. decrease the quantity ofX demanded by less than 4% O C. increase the quantity of X demanded by less than O D. increase the quantity of X demanded by 4% more than 4%

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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