Multiple Choice
Suppose 100 pretzels are demanded at a given price.If the price of pretzels rises by 5% and the number of pretzels demanded falls to 92,it can be concluded that:.
A) the demand for pretzels in the price range is elastic.
B) the demand for pretzels in the price range is inelastic.
C) the demand for pretzels in the price range is unit elastic.
D) the price elasticity of demand for pretzels is zero.
Correct Answer:
Verified
Correct Answer:
Verified
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