If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded - 3649

Solution Posted by
UoPExpert

UoPExpert

Rating : (2)F
Solution Detail
Price: $1.30
  • From: ,
  • Posted on: Mon 26 Mar, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, then the demand for golf balls is 

A.   perfectly elastic.

B.   relatively inelastic.

C.   unit-elastic.

D.   relatively elastic.

Solution Description

If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded,