Advanced Placement (AP), 03.09.2021 23:40 zarzuba
When the price increases by 20% and the quantity demanded drops by 20%, the price elasticity of demand is
a. perfectly inelastic.
b. relatively inelastic.
c. perfectly inelastic.
d. relatively elastic.
e. unitary elastic.
Answers: 2
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When the price increases by 20% and the quantity demanded drops by 20%, the price elasticity of dema...
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