At a price of $5, consumers buy 200 units of good X. When the price fa
At a price of $5, consumers buy 200 units of good X. When the price falls to $4, quantity demanded increases to 250 units. We can conclude that over this range, demand is:
A) elastic.
B) unit elastic.
C) inelastic.
D) perfectly inelastic.
ANSWER
B
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