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In: Economics

The price of a stagecoach trip from Ludlow Bushmatte’s ranch to Rio Bravo falls. In response,...

The price of a stagecoach trip from Ludlow Bushmatte’s ranch to Rio Bravo falls. In response, Morrison takes more trips but his total expenditure on trips declines. Ludlow’s demand is:

A.inelastic

B.elastic

C.unitary elastic

D.indeterminate

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
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