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If the demand curve for a product is relatively inelastic and-(Answered)

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Question

If the demand curve for a product is relatively inelastic and there is a fall in the price of an input used in the manufacture of the product, equilibrium quantity will _____, equilibrium price will _____, but equilibrium _____ will change proportionately more.

a.

decrease; decrease; price

b.

increase; decrease; price

c.

increase; increase; quantity

d.

increase; decrease; quantity

e.

increase; increase; price

 

Paper#9209045 | Written in 27-Jul-2016

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