Multiple Choice
Netflix is the largest online streaming service. Currently, there are approximately 110 million subscribers. Suppose Netflix increases its price by 10 percent and observes that its total revenue increases. Based on this information, the
A) price elasticity of demand for Netflix subscription is inelastic.
B) price elasticity of demand for Netflix subscription is elastic.
C) price elasticity of demand for Netflix subscription is unit elastic.
D) income elasticity of demand for Netflix subscription is elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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