If a 15 Percent Reduction in the Price of Electricity

question 110

Multiple Choice

If a 15 percent reduction in the price of electricity per kilowatt hour has no impact on the total electricity consumption,we can infer that in the short run,the demand for electricity is _____.

• A)perfectly inelastic
• B)perfectly elastic
• C)unitary elastic
• D)relatively inelastic
• E)relatively elastic

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