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An Increase in the Price of T-Shirts from $20 to $25

Question 14

Multiple Choice

An increase in the price of T-shirts from $20 to $25 causes an increase in the quantity supplied of T-shirts from 12,000 to 14,000.Then:

A) The demand is elastic
B) The demand is inelastic
C) The supply is elastic
D) The supply is inelastic
E) The supply is unit elastic

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