For the first time in two years, Big G (the cereal division of General Mills) raised cereal prices by percent. If, as a result of this price increase, the volume of all cereal sold by Big G changed by 5 percent, what can you infer about the own price elasticity of demand for Big G cereal?(Click to select) Unit elasticElasticInelasticYes, it decreased.Yes, it increased.No, you can't tell.
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