A. demand is relatively prices elastic
B. demand is relatively prices inelastic
C. price elasticity of demand is unitary
D. price elasticity of demand is constant
Correct Answer: Option A
A. demand is relatively prices elastic
Explanation
Price elasticity is a measure of the responsiveness of demand or supply of a good or service to changes in price. The price elasticity of demand measures the ratio of the proportionate change in quantity demanded to the proportionate change of the price.
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