Multiple Choice
It is Valentine's Day and Fred is desperately searching all over town for a dozen roses to give to Diane. "I'll pay anything for a dozen roses," he says. Whether he really means it or not, the statement implies that his price elasticity of demand for roses is
A) infinite
B) negative
C) one
D) greater than one
E) zero
Correct Answer:
Verified
Correct Answer:
Verified
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