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Title: Laryssa buys 40 litres of gasoline a week at $1.00 per litre. When the price rose to $1.50 last ... Post by: Phydeaux on Dec 28, 2017 Laryssa buys 40 litres of gasoline a week at $1.00 per litre. When the price rose to $1.50 last summer, she bought only 30 litres a week. Because this 50% increase in price caused a 25% reduction in quantity demanded, Laryssa's demand is ________ and her total expenditure (P × Q) last summer ________.
A) elastic; was higher B) elastic; stayed the same C) inelastic; was lower D) inelastic; was higher E) elastic; was lower Title: Re: Laryssa buys 40 litres of gasoline a week at $1.00 per litre. When the price rose to $1.50 last ... Post by: martrek on Dec 28, 2017 Content hidden
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