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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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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

User Jeff Keslinke
by
4.4k points

1 Answer

5 votes

Your answer is Inelastic.

I hope this helps.

User Trumank
by
4.3k points
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