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Question
Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent. Price elasticity of demand for drive belts appears to be:a. elastic.
b. inelastic.
c. neither elastic nor inelastic.
d. sensitive to price changes.
e. none of the above.
Answer
This answer is hidden. It contains 1 characters.
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