Multiple Choice
When the price of magazines decreases by 10 percent, Efrain buys 10 percent more magazines. Efrain's price elasticity of demand is equal to _____, and his demand is:
A) 1; inelastic.
B) 10; elastic.
C) 10; inelastic.
D) 1; unit elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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