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Econ 102 Exam 1 Review Flashcards | StudBud
Econ 102 Exam 1 Review
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Suppose a decrease in the supply of bottled water results in decreased revenue. This indicates:
A
Demand for water is inelastic in the considered price range
B
Supply of water is elastic in the considered price range
C
Supply of water is inelastic in the considered price range
D
Demand for water is elastic in the considered price range
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