Multiple Choice
The nation's largest cable TV company tested the effect of a price reduction for premium movie channels.It increased prices from $9.95 to $12 and found virtually no change in the number of customers.This means:
A) the demand curve for the premium movie channels shifted to the right.
B) the supply curve for premium movie channels shifted to the left.
C) the demand for premium movie channels is very elastic in this price range.
D) the demand for premium movie channels is very inelastic in this price range.
Correct Answer:
Verified
Correct Answer:
Verified
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