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Question 2 Mark as: Which of the following statements is FALSR?Demand is relatively elastic when...

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Economics

Question 2 Mark as: Which of the following statements is FALSR?Demand is relatively elastic when a

5%

increase in price licals to a

7%

decrease in quantity demanded. Denandis perfectly elastic when a5% increase in proce leash to a 5% decrease in quantity demanded.Demand is relatively inelastic when a

5%

increase in proce leash to a

2%

decrease in quantity demanded.

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