Multiple Choice
The nation's largest cable TV company tested the effect of a price increase for premium sports channels. It increased prices 10% and found that the number of customers decreased by more than 40%. This means:
A) the demand curve for the premium sports channels shifted to the right.
B) the supply curve for premium sports channels shifted to the left.
C) the demand for premium sports channels is elastic in this price range.
D) the demand for premium sports channels is inelastic in this price range.
Correct Answer:
Verified
Correct Answer:
Verified
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