Question: What situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand? Multiple Choice Demand

What situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand? Multiple Choice Demand is cross-price elastic. Demand is price inelastic. Demand is price elastic. Demand maintains the status quo. Demand results in the income effect

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