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Author Question: If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, ... (Read 532 times)

Shelles

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on: Jun 29, 2018
If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, then the demand for golf balls is
 
  A) relatively elastic. B) relatively inelastic. C) perfectly elastic. D) unit elastic.

Question 2

A commodity or token is money if it is ________.
 
  A. generally accepted as means of payment
  B. a store of value
  C. used in a barter transaction
  D. completely safe as a store of value
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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meltdown117

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A Answer A is the definition of money.


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