If a Firm Finds That It Can Sell $13,000 Worth

question 241

Multiple Choice

If a firm finds that it can sell $13,000 worth of a product when its price is $5 per unit and $11,000 worth of it when its price is $6, then

• A)the demand for the product is elastic in the $6-$5 price range.
• B)the demand for the product must have increased.
• C)elasticity of demand is 0.74.
• D)the demand for the product is inelastic in the $6-$5 price range.

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