Advanced Placement (AP), 09.02.2021 19:10 rhondafits43771

Which of these describes a situation of elastic demand? O A. The price of peanuts rises by 10%, and the quantity sold falls by
10%.
B. A gas station increases its prices by 10%, and business drops way
off.
C. A store increases the price of tea, and revenues increase.
D. A drug company increases the price on a drug, and sales remain
strong.

Answers: 1

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Which of these describes a situation of elastic demand? O A. The price of peanuts rises by 10%, and...