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Business, 04.04.2020 00:07 cexe468

When the price of bubble gum is $0.50, the quantity demanded is 400 packs per day. When the price falls to $0.40, the quantity demanded increases to 600. Given this information and using the midpoint method, we know that the demand for bubble gum is .
a. inelastic.
b. elastic.
c. Unit elastic.
d. perfectly inelastic.

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