When a 1 percent decrease in price produces more than 1 percent increase in quantity sold, the product of service is:

Answer: The correct answer is elastic.

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# When a 1 percent decrease in price produces more than 1 percent increase in quantity sold, the product of service is:

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Math, Math Problems and Solutions, Tests, Formulas, Algebra.

When a 1 percent decrease in price produces more than 1 percent increase in quantity sold, the product of service is:

Answer: The correct answer is elastic.