Use the following for questions 108-115.
Exhibit: The Demand for Bungalow Bob's Bagels

-(Exhibit: The Demand for Bungalow Bob's Bagels) Demand is unit price elastic between:
A) $0.30 and $0.40.
B) $0.40 and $0.50.
C) $0.50 and $0.60.
D) $0.60 and $0.70.

Question

Use the following for questions 108-115.
Exhibit: The Demand for Bungalow Bob's Bagels
 
-(Exhibit: The Demand for Bungalow Bob's Bagels) Demand is unit price elastic between:
A) $0.30 and $0.40. 
B) $0.40 and $0.50. 
C) $0.50 and $0.60. 
D) $0.60 and $0.70.

Quizplus · Accepted Answer

Demand is unit price elastic when the percentage change in quantity demanded is equal to the percentage change in price, which typically occurs at the midpoint of a linear demand curve.

Use the Following for Questions 108-115