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sgy_89 sgy_89
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7 years ago
If the Deluxe Cab Company increases its fares by 20 percent and the number of cab rides demanded declines,
A) demand is elastic, but not perfectly elastic.
B) nothing can be concluded about the elasticity of demand, but the demand curve must slope downward.
C) demand is of unitary elasticity.
D) the demand curve for cab service must be a vertical straight line.
E) demand must be inelastic, but not perfectly inelastic.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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foliogefolioge
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