Pick an answer  Demand for good X is perfectly elastic. Currently, the price of good X is $5 and quantity demanded is 100,000. If the price increases to $7, quantity demanded will be:     0   60,000   100,000   Impossible to determine.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 16SQ
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Demand for good X is perfectly elastic. Currently, the price of good X is $5 and quantity demanded is 100,000. If the price increases to $7, quantity demanded will be:

 
 

0

 

60,000

 

100,000

 

Impossible to determine.

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