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Elastic demand for a resource means that

A

a change in the price of a resource causes a proportionately larger change in the demand for that resource.

B

a change in the price of a resource causes a proportionately smaller change in the demand for that resource.

C

a change in the price of a resource causes a proportionately larger change in the quantity demanded for that resource.

D

a change in the price of a resource causes a proportionately smaller change in the quantity demanded for that resource.

E

a change in the price of a resource causes no change in the quantity demanded for that resource.

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