Multiple Choice
Suppose the price of beans rises from $1.00 a pound to $2.00 a pound,quantity demanded falls from 10 units to 6 units.In this example,the demand for beans is said to be
A) relatively elastic.
B) relatively inelastic.
C) perfectly elastic.
D) perfectly inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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