Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for a Snickers candy bar at an airport is likely to be ________ the price elasticity of demand for a Snickers candy bar at the grocery store.
A. equal to
B. the reciprocal of
C. less than
D. greater than
Answer: C
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What will be an ideal response?
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