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1. When an increase in price of product A results in a sales decrease of product...

1. When an increase in price of product A results in a sales decrease of product A and product B, the two products are said to be:

a) Dynamic

b) Complementary

c) Subsitutes

d) Interactive

2. A product’s price has increased by 25% but demand has not been affected. It can be concluded that this product has:

a) Unitary elasticity

b) Inelastic demand

c) Slightly inelastic demand

d) Elastic demand

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