20- A 10 percent rise in the price of housing reduces the quantity demanded of h

Question

20- A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We can conclude that the demand for housing is: Question 20 options: a- inelastic. b- elastic. c- unitary elastic. d- perfectly elastic. 20- A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We can conclude that the demand for housing is: 20- A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We can conclude that the demand for housing is: a- inelastic. b- elastic. c- unitary elastic. d- perfectly elastic. inelastic. elastic. unitary elastic. perfectly elastic. a- inelastic. b- elastic. c- unitary elastic. d- perfectly elastic.

Explanation / Answer

b- elastic.

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