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    Question

    What does a more elastic curve signify in terms of price

    and quantity consumed?
    A Small changes in price lead to large changes in quantity consumed Correct Answer Incorrect Answer
    B Large changes in price lead to small changes in quantity consumed Correct Answer Incorrect Answer
    C Quantity consumed remains constant regardless of price changes Correct Answer Incorrect Answer
    D Price and quantity consumed change at the same rate Correct Answer Incorrect Answer

    Solution

    Explanation: A more elastic curve signifies higher responsiveness, where even small changes in price result in significant shifts in the quantity consumed.

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