The following information pertains to three different products being sold by Andy Company: Which products have an elastic demand curve?

A) Product A
B) Product B
C) Product C
D) all of the above

Question

The following information pertains to three different products being sold by Andy Company: Which products have an elastic demand curve?

A) Product A 
B) Product B 
C) Product C 
D) all of the above

Quizplus · Accepted Answer

Product B has an elastic demand curve because a small change in price will lead to a significant change in demand. Products A and C do not necessarily have elastic demand curves based on the information given.

The Following Information Pertains to Three Different Products Being Sold