Multiple Choice
If the price of hairbrushes decreases by 20 percent and the quantity of hairbrushes demanded increases by 2 percent, the price elasticity of demand is _____ and is _____.
A) −0.1; elastic
B) 10; elastic
C) −0.1; inelastic
D) 10; inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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