Multiple Choice
When the price of coffee is $2.2 per cup, 11 million cups are demanded, and when the price of coffee goes up to $2.6 per cup, 10 billion cups are demanded. The coffee in this range has a(n)
A) elastic demand.
B) inelastic demand.
C) unit elastic demand.
D) perfectly elastic demand.
Correct Answer:
Verified
Correct Answer:
Verified
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