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When the Price of an EBook Is $15

Question 196

Multiple Choice

When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 700. Given this information and using the midpoint method, we know that the demand for eBooks is


A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastid.

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