Multiple Choice
If a firm can sell1,000 units of product A at $8 per unit and1,200 at $6, then
A) the price elasticity of demand is approximately 1.57.
B) A is a complementary good.
C) the price elasticity of demand is approximately 0.64.
D) A is an inferior good.
Correct Answer:
Verified
Correct Answer:
Verified
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