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If the Percentage Change in Quantity Demanded of a Good

Question 36

Multiple Choice
If the percentage change in quantity demanded of a good is less than infinite and is greater than the percentage change in price that caused it, then the demand for the good is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastic.
E) perfectly elastic.

If the percentage change in quantity demanded of a good is less than infinite and is greater than the percentage change in price that caused it, then the demand for the good is


A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastic.
E) perfectly elastic.

Correct Answer:

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