Multiple Choice
The own-price elasticity of the demand for water among urban residential users is -0.20 in summer and -0.06 in winter. Compare the elasticities by season.
A) The demand is inelastic in both seasons.
B) The demand is more elastic in the summer.
C) The demand is less elastic in the winter.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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