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Please show all work and explain reasoning. Thank you !! 0) As the price of good X increases from $5 to $8, quantity demanded falls

Please show all work and explain reasoning. Thank you !!

0) As the price of good X increases from $5 to $8, quantity demanded falls from 100 to 80. Based upon this information we can conclude that the demand for X is A) inelastic. B) unit inelastic. C) elastic. D) insufficient information for judgment

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