When the Price of Candy Bars Is $1

question 93

Multiple Choice

When the price of candy bars is $1.00,the quantity demanded is 500 per day.When the price falls to $0.80,the quantity demanded increases to 600.Given this information and using the midpoint method,we know that the demand for candy bars is

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

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