Multiple Choice
A sandwich shop observes that when it increases the price of a sandwich,total revenue from sandwich sales increases,and when they lower the price of a sandwich,total revenue from taco sales decreases.This suggests:
A) the demand for sandwiches is inelastic.
B) the demand for sandwiches is elastic.
C) there are many good substitutes for sandwiches.
D) the law of demand is being violated.
Correct Answer:
Verified
Correct Answer:
Verified
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