Voice-Beat is an earphone manufacturing firm. Suppose 900 units of earphones are demanded when the price of each unit is equal to $40 . When the price is $42 per unit, 837 units of earphones are demanded. On the basis of the given data, we can say that the price elasticity of demand of Voice-Beat earphones is:
a. inelastic
b. elastic.
c. perfectly inelastic.
d. perfectly elastic.
b
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