Rick has a lemonade stand at a park. When the price of a bottle is $1, the quantity demanded is 500 per day. He wanted to experiment to find out if lowering the price ends up getting him a greater revenue. He decreased the price of a bottle to $0.80, and the quantity demanded increased to 600. From this information, we can conclude that the demand for Rick's lemonade is perfectly inelastic. elastic. unit elastic. inelastic. оооо

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