Multiple Choice
When the NES Group lowered the price of its professional-grade meat slicers from $2,300 to $1,600,demand doubled from 4 units sold per month to 8 units per month.However,total revenue dropped.What is this an example of?
A) unitary elasticity
B) elastic demand
C) consumer shortage
D) inelastic demand
Correct Answer:
Verified
Correct Answer:
Verified
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