A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2020 · Q61 Mark
A manufacturer progressively reduces the price of his product. The table shows the outcome of this policy. price () | total revenue 000s () ---|--- 10 | 750 9 | 750 8 | 750 What is the price elasticity of demand for the product?
Aperfectly inelastic
Brelatively inelastic
Cperfectly elastic
Dunitary
✓ Correct answer
D: unitary
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