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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
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5 votes
D. inelastic is the answet
User For Comment
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