Multiple Choice
Suppose that the price elasticity of demand for bottled water in Sackville, New Brunswick is 1.5, while the price elasticity of demand for bottled water in Prince Albert, Saskatchewan is 0.93. This implies that the demand in Sackville is ________ and demand in Prince Albert is ________.
A) unit elastic; unit elastic
B) perfectly elastic; inelastic
C) inelastic; elastic
D) elastic; inelastic
E) elastic; unit elastic
Correct Answer:
Verified
Correct Answer:
Verified
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