Multiple Choice
When the price of designer jeans goes from $85 to $60, the quantity demanded increases from 100,000 to 120,000. Over this price range, the
A) demand for the jeans is elastic.
B) demand for the jeans is inelastic.
C) demand for the jeans is of unitary elasticity.
D) arc elasticity of demand for the jeans is − 4.
Correct Answer:
Verified
Correct Answer:
Verified
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