Demand would be classed as elastic if the elasticity coefficient was:
A)greater than two
B)less than, or equal to, zero
C)equal to one
D)less than one

Question

Quizplus · Accepted Answer

Generally, demand is said to be elastic if the elasticity coefficient is greater than one. Option A specifies that the elasticity coefficient is greater than two, which falls under the category of elastic demand.

Demand Would Be Classed as Elastic If the Elasticity Coefficient