A 5 percent increase in the price of sugar causes the quantity demanded to fall by 15

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A 5 percent increase in the price of sugar causes the quantity demanded to fall by 15 per cent. The demand for sugar is _____.

a) perfectly elastic

b) elastic

c) unit elastic

d) inelastic

e) perfectly inelastic

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 29, 2024 07:01 AM

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A 5 percent increase in the price of sugar causes the quantity demanded to fall by 15

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Microeconomics

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