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when the price of a given product is reduced from N100 to N90, the quantity demanded ...

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
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  • A Demand is elastic
  • B Demand is inelastic
  • C Demand is perfectly inelastic
  • D Supply is not elastic
  • E Demand has decline
Correct Answer: Option A
Explanation:

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