Multiple Choice
When the price of candy bars is $1.00, the quantity demanded is 500 per day. When the price falls to $0.80, the quantity demanded increases to 600. Given this information and using the midpoint method, we know that the demand for candy bars is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastid.
Correct Answer:
Verified
Correct Answer:
Verified
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