Multiple Choice
If 400 apple pies are sold at $4 per pie, but 600 apple pies are sold at $3 per pie, we know:
A) that the demand for pies is elastic over that price range.
B) that the demand for pies is inelastic over that price range.
C) that the demand for pies is unit elastic over that price range.
D) nothing about the elasticity of demand.
Correct Answer:
Verified
Correct Answer:
Verified
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