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When Jack lowers the price of his lemonade from $1.50 to $1.00 per cup, his total revenue from selling lemonade drops. Based on this information,

When Jack lowers the price of his lemonade from $1.50 to $1.00 per cup, his total revenue from selling lemonade drops. Based on this information, we can conclude that the price elasticity of demand for Jack's lemonade is _________. Group of answer choices inelastic elastic unit elastic perfectly elastic inferior

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