Multiple Choice
A 0.5% increase in the price of a particular product causes the quantity demanded of the product to drop to zero.This means that the price elasticity of demand for the product is:
A) moderately inelastic.
B) highly inelastic.
C) unitary elastic.
D) perfectly inelastic.
E) perfectly elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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