Multiple Choice
Mike raised the price of his coffee by 15% and the demand for his coffee then fell 25%. If this is the case, then which of the following is true about the demand for Mike's coffee?
A) The demand is perfectly elastic
B) The demand is perfectly inelastic
C) The demand is price elastic
D) The demand is price inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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