UPS is a package delivery firm. In 2020, CEO Carlo Tome announced that during the 2020 holiday season the firm would significantly raise the prices it charged large retail shippers. She was quoted in an article in the Wall Street Journal as saying, "While retailers may squawk at price increases that come their way, large retailers have a way to spread that across and nobody knows." The article also quoted the head of a supply chain consulting firm as saying, "This [price increase] is devastating to retailers." Source: Paul Ziobro, "UPS Plans Hefty Holiday Fees Amid Coronavirus Related Shipment Surge," Wall Street Journal, August 7, 2020. a. What was the UPS CEO assuming about the price elasticity of demand for UPS's package delivery service? A. It is unit elastic in demand. B. It is perfectly elastic in demand. C. It is inelastic in demand. D. It is elastic in demand