The price of product X is reduced from $45 to $20 and, as a result, the quantity demanded increases from 20 to 25 units.From this we can conclude that the demand for X in this price range:
A)has declined
B)is of unit elasticity
C)is inelastic
D)is elastic

Question

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The Answer of The price of product X is reduced from $45 to $20 and, as a result, the quantity demanded increases from 20 to 25 units.From this we can conclude that the demand for X in this price range:
A)has declined
B)is of unit elasticity
C)is inelastic
D)is elastic

The Price of Product X Is Reduced from $45 to $20