Multiple Choice
Exhibit 5-4 Demand curves for silver
-If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:
A) price elastic.
B) price inelastic.
C) perfectly inelastic.
D) unitary elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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