If a firm finds that it can sell $13,000 worth of a product when its price is $5 per unit and $11,000 worth of it when its price is $6, then
A)the demand for the product is elastic in the $6-$5 price range.
B)the demand for the product must have increased.
C)elasticity of demand is 0.74.
D)the demand for the product is inelastic in the $6-$5 price range.

Question

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The Answer of If a firm finds that it can sell $13,000 worth of a product when its price is $5 per unit and $11,000 worth of it when its price is $6, then
A)the demand for the product is elastic in the $6-$5 price range.
B)the demand for the product must have increased.
C)elasticity of demand is 0.74.
D)the demand for the product is inelastic in the $6-$5 price range.

If a Firm Finds That It Can Sell $13,000 Worth