Question: Q48. A price increase will cause a relatively large drop in quantity demanded when a. demand is perfectly inelastic. b. the price elasticity of demand

Q48. A price increase will cause a relatively large drop in quantity demanded when

a. demand is perfectly inelastic.

b. the price elasticity of demand is 0.

c. there is very little time allowed for consumers to react.

d. the consumer has easy access to a number of substitute goods.

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