The price elasticity of demand for skiing lessons in New Hampshire is over 1.00.This means that the demand is in New Hampshire.
A)price elastic
B)price inelastic
C)price unit-elastic.
D)perfectly price elastic

Question

Quizplus · Accepted Answer

When elasticity of demand is greater than 1, it means that a small change in price results in a larger change in the quantity demanded. This indicates that the demand for skiing lessons in New Hampshire is sensitive to changes in price, hence it is price elastic.

The Price Elasticity of Demand for Skiing Lessons in New