[Solved] If the price elasticity of a product is greater than 1, we can say that

Q.	If the price elasticity of a product is greater than 1, we can say that
A.	The products demand is sensitive to price variation
B.	Product demand is insensitive to price variation
C.	Demand and price move in same directions
D.	None of this
Answer» A. The products demand is sensitive to price variation

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Fundamentals of Economics and Management

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