Multiple Choice
If the price of Pepsi-Cola increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the demand for Pepsi-Cola is
A) unit elastic
B) perfectly elastic
C) perfectly inelastic
D) relatively elastic
E) relatively inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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