Which of the following statements regarding price elasticity is incorrect? Group of answer choices a. A product with a perfectly inelastic demand would have the same demand even as prices change. b. A...

Which of the following statements regarding price elasticity is incorrect?

Group of answer choices

a. A product with a perfectly inelastic demand would have the same demand even as prices change.

b. A product with a perfectly inelastic demand would see demand change as prices change.

c. When demand is price elastic, lower prices stimulate demand.

d. When demand is price elastic, higher prices reduce demand.

Jun 07, 2022

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