For the first quarter of the year, the price of the company's most popular e-reader was $129.00. The company sold 750,000 units at this price. For the second quarter, the company decided to reduce the price of the e-reader to $109.00. At this price point, the company sold 1.5 million units indicating that demand for the product is
A) stable.
B) elastic.
C) marginal.
D) inelastic.
E) unstable.
Correct Answer:
Verified
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