When the Price of Bubble Gum Is $0

question 21

Multiple Choice

When the price of bubble gum is $0.50,the quantity demanded is 400 packs per day.When the price falls to $0.40,the quantity demanded increases to 600.Given this information and using the midpoint method,we know that the demand for bubble gum is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly inelastic.

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Definitions:

Excessive

Used to describe something that is more than necessary, reasonable, or permissible; overly abundant.

Adhesion

The process of sticking or the state of being stuck together, often referring to internal tissues clumping together abnormally.

Syn-

A prefix in medical terminology meaning "with," "together," or "joined"; used in words to indicate a union or a significant relationship.

Adhes-

Prefix relating to or implying sticking, attachment, or adhesion, often used in medical terms.