Question: Suppose a decrease in the price of bottled water results in a decrease in revenue. This indicates that Question 24 options: the demand for bottled

Suppose a decrease in the price of bottled water results in a decrease in revenue. This indicates that

Question 24 options:

the demand for bottled water is inelastic in the price range considered

the demand for bottled water is elastic in the price range considered

the supply of bottled water is inelastic in the price range considered

the supply of bottled water is elastic in the price range considered

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