Which of the following statements about elasticity of demand is false? A. A consumer with highly elastic demand for a good is very responsive to price changes. B. Demand for a good can be highly elastic at one price and inelastic at a different price. C. If the elasticity of demand for a good at a certain price is equal to or less than one, demand is elastic. D. To calculate elasticity, divide the percentage change in the demand of a good by the percentage change in its price.
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