Multiple Choice
You own a small store. Your cashier thinks you should raise prices to increase your total revenue and your customer thinks you should lower prices to increase your total revenue. The cashier thinks the price elasticity of demand is ________ and the customer believes the price elasticity of demand is ________.
A) elastic; inelastic
B) unit elastic; elastic
C) inelastic; inelastic
D) elastic; elastic
E) inelastic; elastic
Correct Answer:
Verified
Correct Answer:
Verified
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