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Author Question: Which of the following is true? i. The easier it is to find substitutes for a good, the more price ... (Read 74 times)

jc611

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on: May 24, 2019
Which of the following is true?
i.  The easier it is to find substitutes for a good, the more price elastic the demand for the good is.
ii.  The demand for a good is more price elastic the smaller the proportion of income spent on it.
iii.  If demand is price elastic, lowering the price leads to a decrease in total revenue.
◦ i only
◦ ii only
◦ iii only
◦ i and ii
◦ i and iii
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by jc611 on May 24, 2019

gabrielle_lawrence

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jc611

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Reply 2 on: May 24, 2019
Great answer, keep it coming :)

adammoses97

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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