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The Shoe Emporium Reduces the Price of Its Shoes by 50

Question 163

Multiple Choice

The Shoe Emporium reduces the price of its shoes by 50% and finds that the quantity demanded for its shoes more than doubles.The demand for shoes from The Shoe Emporium appears to be:


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

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