If the price of apples rises from $.50 to $1.50 and quantity demanded falls from 1,000 to 900, we can conclude that the price elasticity for apples is

A) −20.
B) inelastic.
C) elastic.
D) unitary.

Price Elasticity

A measure of how the quantity demanded of a good is affected by a change in its price.

Inelastic

A characteristic of demand when consumers' purchase quantities are not significantly affected by changes in the price of a good or service.