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When the Price of Sneakers Decreases by 10 Percent, Anaiah

Question 38

Multiple Choice

When the price of sneakers decreases by 10 percent, Anaiah buys 40 percent more flowers. Anaiah's price elasticity of demand is equal to _____, and his demand is:


A) 0.25; inelastic.
B) 4; unit elastic.
C) 4; elastic.
D) 2; inelastic.

Correct Answer:

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