Multiple Choice
Which of the following statements is true ?
A) b and d.
B) Total revenue is maximized when elasticity is one.
C) Goods are said to be price inelastic when the elasticity is greater than two.
D) Demand for milk is more elastic than demand for football tickets.
E) Demand for 5-cent candy is more elastic than demand for sweaters.
Correct Answer:
Verified
Correct Answer:
Verified
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