A company decreases the price of a gallon of milk by 10 percent and the company's total revenues fall significantly. What term best describes the demand for milk? a. elastic b. inelastic c. unit elastic

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asked Jan 1, 2023 188k views

22 votes

A company decreases the price of a gallon of milk by 10 percent and the company's total revenues fall

significantly. What term best describes the demand for milk?
a. elastic
b. inelastic
c. unit elastic
d. demand elastic

Social Studies
high-school

Jeff Keslinke asked

by Jeff Keslinke

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1 Answer

5 votes

Your answer is Inelastic.

I hope this helps.

Trumank answered Jan 7, 2023

by Trumank

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