If the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for orange juice is
A)-1.25.
B)inelastic.
C)Both A and B above.
D)Neither A nor B above.
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If the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for orange juice is
A)-1.25.
B)inelastic.
C)Both A and B above.
D)Neither A nor B above.