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Which of the following statements regarding price elasticity is incorrect? a. A product with...

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Accounting

Which of the following statements regarding price elasticity is incorrect?

a. A product with a perfectly inelastic demand would have the same demand even as prices change.

b. A product with a perfectly inelastic demand would see demand change as prices change.

c. When demand is price elastic, lower prices stimulate demand.

d. When demand is price elastic, higher prices reduce demand.

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