Answer:
Carnival's demand would be elastic
Step-by-step explanation:
A demand is said to be elastic when the demand is when the percentage change in the quantity demanded surpass the percentage change in price.
Given that
Percentage in demand is =20%
And
Percentage in price is =10%
Percentage change = 20%/10%
Percentage change = 2
Since the ratio (percentage change) is greater than 1, we say the demand is elastic.
