Question
When the price of bubble tea increases 5%, quantity demanded decreases 7%. The price elasticity of demand for bubble tea is ___________ and total revenue
When the price of bubble tea increases 5%, quantity demanded decreases 7%. The price elasticity of demand for bubble tea is ___________ and total revenue from bubble tea sales will __________ .
Group of answer choices
elastic; decrease
elastic; increase
inelastic; decrease
unit elastic; not change
inelastic; increase
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The Commanding Heights The Battle For The World Economy
Authors: Daniel Yergin, Joseph Stanislaw
1st Edition
068483569X, 9780684835693
