Price elasticity is usually a negative number because of
A) inelastic demand.
B) elastic demand.
C) unitary demand.
D) the law of demand.

Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a product increases, quantity demanded decreases, and vice versa, which is why price elasticity is usually negative, reflecting the inverse relationship between price and quantity demanded.

Price Elasticity Is Usually a Negative Number Because of