When the price of a given product is reduced from N100 to...
When the price of a given product is reduced from N100 to N90, the quantity demanded increases from 50 to 60 units. From this we can conclude that the product's
Demand is elastic
Demand is inelastic
Demand is perfectly inelastic
Supply is not elastic
Demand has decline
Correct answer is A
No explanation has been provided for this answer.
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