The price elasticity of demand is positive when there is an inverse relationship between price and quantity demanded.

Name: The price elasticity of demand is positive when there is an inverse relationship between price and quantity demanded.
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Question

Quizplus · Accepted Answer

The price elasticity of demand is typically negative, reflecting the inverse relationship between price and quantity demanded; when price increases, quantity demanded usually decreases, and vice versa.

The Price Elasticity of Demand Is Positive When There Is