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When Plantation Manufacturing Company Lowered the Price of Its Patio

Question 35

Multiple Choice

When Plantation Manufacturing Company lowered the price of its patio sets from $1,100 to $850,demand doubled from 4 units sold per month to 8 units per month.However,total revenue dropped.This is an example of:


A) substitute goods
B) unitary elasticity
C) elastic demand
D) consumer shortage
E) inelastic demand

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