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MMLU-Pro / 7025 / At 25 cents apiece, Mr.Krinskysells 100 chocolate bars per week. If he drops his…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

At 25 cents apiece, Mr.Krinskysells 100 chocolate bars per week. If he drops his price to 20 cents, his weekly sales will increase to 110 bars. Is the demand for chocolate bars elastic or inelastic?

category

economics

options

  1. Elastic
  2. Elastic at 25 cents, Inelastic at 20 cents
  3. Inelastic
  4. Perfectly Elastic
  5. Perfectly Elastic at 20 cents, Inelastic at 25 cents
  6. Relatively Elastic
  7. Unit Elastic
  8. Unit Inelastic
  9. Perfectly Inelastic

src

stemez-Economics

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