When the price of designer jeans goes from $85 to $60, the quantity demanded increases from 100,000 to 120,000. Over this pricerange, theO a. demand for the jeans is elastic.b. demand for the jeans is inelastic.C. demand for the jeans is of unitary elasticity.d.arc elasticity of demand for the jeans is -4.

here we calculate the elasticity to know the answer so we calculate the price elasticity of demand…

When the price of designer jeans goes from $85 to $60, the quantity demanded increases from 100,000 to 120,000. Over this price range, the a. demand for the jeans is elastic. Ob. demand for the jeans is inelastic. Oc. demand for the jeans is of unitary elasticity. Od arc elasticity of demand for the jeans is -4.

When the price of designer jeans goes from $85 to $60, the quantity demanded increases from 100,000 to 120,000. Over this price range, the a. demand for the jeans is elastic. Ob. demand for the jeans is inelastic. Oc. demand for the jeans is of unitary elasticity. Od arc elasticity of demand for the jeans is -4.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 2CQQ: The price of a good rises from 8 to 12, and the quantity demanded falls from 110 to 90 units....

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