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If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?a)Quantity demanded will fall by a relatively large amount.b)Quantity demanded will fall by a relatively small amount.c)Quantity demanded will rise in the short run, but fall in the long run.d)Quantity demanded will fall in the short run, but rise in the long run.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared
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If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?a)Quantity demanded will fall by a relatively large amount.b)Quantity demanded will fall by a relatively small amount.c)Quantity demanded will rise in the short run, but fall in the long run.d)Quantity demanded will fall in the short run, but rise in the long run.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?a)Quantity demanded will fall by a relatively large amount.b)Quantity demanded will fall by a relatively small amount.c)Quantity demanded will rise in the short run, but fall in the long run.d)Quantity demanded will fall in the short run, but rise in the long run.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?a)Quantity demanded will fall by a relatively large amount.b)Quantity demanded will fall by a relatively small amount.c)Quantity demanded will rise in the short run, but fall in the long run.d)Quantity demanded will fall in the short run, but rise in the long run.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?a)Quantity demanded will fall by a relatively large amount.b)Quantity demanded will fall by a relatively small amount.c)Quantity demanded will rise in the short run, but fall in the long run.d)Quantity demanded will fall in the short run, but rise in the long run.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.