Multiple Choice
Netflix is the largest online DVD rental service offering flat rate online streaming to customers in the United States. Currently, there are approximately 8 million subscribers. Suppose Netflix decreases its flat rate rental by 10 percent and an additional 1 million people subscribe. This information means that Netflix's demand is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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