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If the prices of shoes falls from $100 to $80 and the amount sold increases by 12% it can be concluded that -demand shoes is elastic -The demand for shoes is perfectly inelastic -demand shoes is perfectly elastic -The demand for shoes is inelastic -The demand for shoes has unit elasticity

Economics Jan 15, 2022

If the prices of shoes falls from $100 to $80 and the amount sold increases by 12% it can be concluded that

-demand shoes is elastic

-The demand for shoes is perfectly inelastic

-demand shoes is perfectly elastic

-The demand for shoes is inelastic

-The demand for shoes has unit elasticity

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