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Question
When demand is elastic,
A) a proportionately small change in price leads to a proportionately large change in quantity supplied.
B) a proportionately small change in price leads to a proportionately small change in quantity supplied.
C) a proportionately small change in price leads to a proportionately large change in quantity demanded.
D) a proportionately small change in price leads to a proportionately small change in quantity demanded.
Answer
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