Multiple Choice
If 100 shirts are sold when the unit price is $10, while 75 shirts are sold when the unit price is $15, one can conclude that in this price range,
A) demand for the shirts is elastic.
B) demand for the shirts is inelastic.
C) demand for the shirts has shifted to the right.
D) consumers are quite sensitive to changes in the price of the shirt.
Correct Answer:
Verified
Correct Answer:
Verified
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