Multiple Choice
If Herbert, the hair stylist, raises the price of his cuts from $13 to $15 and finds the number of cuts falls from 300 to 260, then the demand for Herbert's cuts in this range is:
A) price inelastic.
B) price elastic.
C) unit elastic.
D) cross elastic.
E) income inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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