Suppose a 10% Increase in the Price of Pain Relievers

question 126

Multiple Choice

Suppose a 10% increase in the price of pain relievers leads to a 5% decrease in quantity demanded of pain relievers.The demand for pain relievers,with respect to price,is:

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

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