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A Jeweler Cut Prices in His Store by 20% and the Dollar

Question 102

Multiple Choice

A jeweler cut prices in his store by 20% and the dollar value of his sales fell by 20%. This is indicative of:


A) ​elastic demand.
B) ​inelastic demand.
C) ​perfectly elastic demand.
D) ​perfectly inelastic demand.

Correct Answer:

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