The price of pens increases from $2 to $2.20. At the same time, the quantity of pens demanded decreases from 100 to 90. Demand for pens is

A) perfectly inelastic.
B) inelastic.
C) unitary elastic.
D) elastic

Ans: C) unitary elastic.

Economics

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How might consumer credit laws contribute to the empowerment of individuals?

A) Seller and lender abuses are reduced under consumer credit laws. B) Consumers are able to borrow money regardless of their credit history. C) Lenders can choose not to extend credit to individuals with a poor credit rating. D) Consumer credit laws prevent individuals from borrowing money, keeping them out of debt.

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