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Answer to Question #235362 in Economics for Nana
Question #235362
The price elasticity demand for Mercedes Benz motor vehicles is probably
- A. elastic and more elastic than the total demand for motor vehicles.
- B. inelastic but more elastic than the total demand for motor vehicles.
- C. inelastic and less elastic than the total demand for motor vehicles.
- D. elastic but less elastic than the total demand for motor vehicles.
Expert's answer
The price elasticity demand for Mercedes Benz motor vehicles is probably elastic but less elastic than the total demand for motor vehicles.
So, the correct answer is D.
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