Suppose that in a month the price of a dozen of eggs increases from $1.50 to $2. At the same time, the quantity of dozens of eggs demanded decreases from 200 to 150. The price elasticity of demand for dozens of eggs is:
A. perfectly inelastic.
B. inelastic.
C. unit elastic.
D. elastic.
Answer: C
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Indicate whether the statement is true or false