If price elasticity of demand is between 0 and 1, demand for that product is
A) inelastic.
B) elastic.
C) monetary elastic.
D) unitary elastic.

Name: If price elasticity of demand is between 0 and 1, demand for that product is A) inelastic. B) elastic. C) monetary elastic. D) unitary elastic.
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Question

Quizplus · Accepted Answer

When the price elasticity of demand is between 0 and 1, it indicates that the percentage change in quantity demanded is less than the percentage change in price, meaning demand is relatively inelastic.

If Price Elasticity of Demand Is Between 0 and 1