Assume the price of beans rises from 1.00 a pound to 2.00 a, Ask an Expert

Economics

Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______

A) perfectly elastic.

B) relatively elastic.

C) relatively inelastic.

D) perfectly inelastic.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9291993

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