Refer to Scenario 8.2. The more elastic is demand for yachts, A) the
Refer to Scenario 8.2. The more elastic is demand for yachts,
A) the more Q will fall and the more P will rise.
B) the less Q will fall and the more P will rise.
C) the more Q will fall and the less P will rise.
D) the less Q will fall and the less P will rise.
E) the closer is the new equilibrium point to the old.
ANSWER
C
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