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Ai Humanizer
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Economics and Personal Finance
Practice Test
Question 3
3
practice test
Multiple Choice
Practice Test
Question 3 • Economics and Personal Finance
Which is likely to occur if there is a price increase for a good which exhibits elastic demand?
Answer
A
People might buy a more expensive substitute good.
B
People might buy a less expensive substitute good.
C
People might buy a less expensive complementary good.
D
People might buy a more expensive complementary good.
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