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Suppose Rhonda owns and operates a surf shop. Last week, Rhonda raised the price on all items in her shop by 20 percent and her
Suppose Rhonda owns and operates a surf shop. Last week, Rhonda raised the price on all items in her shop by 20 percent and her revenues decreased by 20 percent. Everything else held constant, it can be concludedwith certaintythat Rhonda's customers' demand is
Select one:
A.unit elastic.
B.priceelastic.
C.priceinelastic.
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