Multiple Choice
If Sam, the Pizza Man, lowers the price of his pizzas from $6 to $5 and finds that sales increase from 400 to 600 pizzas per week, then the demand for Sam's pizzas in this range is:
A) price inelastic.
B) price elastic.
C) unit elastic.
D) cross elastic.
E) income inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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