Question: Question 1 (Marks: 30) Multiple-choice questions: Select one correct answer for each of the following. In your answer booklet, write down only the number of

Question 1 (Marks: 30) Multiple-choice questions: Select one correct answer for each of the following. In your answer booklet, write down only the number of the question and next to it, the letter of the correct answer. Q.1.1 Which of the two demand curves is more price inelastic compared to the other? (2) Price 4 D Quantity (a) The flatter one (D1); (b) The steeper one (D2); (c) There is not sufficient information to answer the question; (d) Price elasticity is likely to be the same for both demand curves

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