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4 June, 12:22

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.

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Answers (2)
  1. 4 June, 12:36
    0
    D. inelastic is correct
  2. 4 June, 12:42
    0
    D. inelastic is the answet
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