Multiple Choice
-Refer to the information above to answer this question.Which of the following statements is correct?
A) Demand is inelastic if the price changes from $5 to $7.
B) Demand is inelastic if the price changes from $4 to $7.
C) Demand is inelastic if the price changes from $6 to $10.
D) Demand is unitary elastic if the price changes from $1 to $10.
E) None of the choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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