If a Pizza Hut raises the price of a slice of pizza from $3.00 to $3.25, the quantity demanded decreases from 1,500 slices per week to 1,300 slices per week
The demand for slices of pizza is ________ and the total revenue received by this Pizza Hut ________. A) elastic; decreases
B) inelastic; decreases
C) elastic; increases
D) inelastic; increases
E) unit elastic; does not change
A
Economics
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