ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A bottle making business announced it had introduced a new production system.As a result the quantity produced per week could be increased or reduced much more easily when the price of bottles changed.What term describes this change?
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a less elastic demand
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a less elastic supply
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a more elastic demand
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a more elastic supply
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Explanation:
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