If the price of a product goes down by 10% and the quantity demanded goes up by 20% the product is:
a. elastic
c. cheap
b. inelastic
d. is an inferior good

a. elastic

Explanation:

A product is elastic when a change in the price will have a significant impact in the demand of the product.

Also, elasticity is equal to the % change in quantity divided by the % change in price and if the result is greater than 1, it is said that the demand for the product is affected by  the price. So,

Elasticity= 20%/10%= 1

According to this, the product is elastic because the change in price have an important impact in the demand of the product.

ell really, the setting was in franklin and lincoln visits franklin even after he moved to columbus, and he went to school

answer; dividing net income by 1- t ;