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Question
When the price of gasoline is $2.20 per gallon, 11 million gallons are demanded, and when the price of gasoline goes up to $2.60 per gallon, 10 million gallons are demanded. The gasoline in this range has a(n)
A) elastic demand.
B) inelastic demand.
C) unit elastic demand.
D) perfectly elastic demand.
Answer
This answer is hidden. It contains 1 characters.
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