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

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good or service increases, the quantity demanded decreases. As price elasticity measures the responsiveness of quantity demanded to changes in price, it is generally a negative number because there is an inverse relationship between price and quantity demanded.

Price Elasticity Is Generally a Negative Number Because _____