Assume that when the price of good Z is increased from $5 to $6, the t
Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:
A) elastic.
B) unit elastic.
C) inelastic.
D) perfectly inelastic.
ANSWER
C
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