84.7k views
4 votes
Assume that when the price of good X is $5.00, the quantity demanded is 20 units. When the price is decreased to $3.00, the quantity demanded increases to 20 units. Under these circumstances, the demand is:

A. elastic. B. unit elastic. C. perfectly elastic. D. inelastic.

2 Answers

7 votes
D. inelastic is correct
User Bonyem
by
8.3k points
5 votes
D. inelastic is the answet
User For Comment
by
8.4k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.