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When Monica's Catering Lowered the Price of Catered Meals from $60

Question 4

Multiple Choice

When Monica's Catering lowered the price of catered meals from $60 per person to $20 per person, the quantity demanded doubled from 500 meals to 1,000 meals. You can conclude that the demand for Monica's catered meals over the price range of $20 to $60 is


A) upward sloping.
B) unit elastic.
C) elastic.
D) inelastic.

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