MCQOPTIONS
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| 1. |
Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering rasiing prices, it can expect a relatively |
| A. | arge fall in quantity demanded |
| B. | arge fall in demand |
| C. | mall fall in quantity demanded |
| D. | mall fall in demand |
| Answer» B. arge fall in demand | |