When the price elasticity of demand is ________, demand for the good is inelastic.
A)equal to infinity
B)greater than 1
C)equal to 1
D)between 1 and zero
E)equal to zero

Question

Quizplus · Accepted Answer

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

When the Price Elasticity of Demand Is ________, Demand for the Good