If demand is elastic,then the elasticity of demand is
A)zero.
B)between zero and 1.
C)1.
D)more than 1.

Name: If demand is elastic,then the elasticity of demand is A)zero. B)between zero and 1. C)1. D)more than 1.
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Question

Quizplus · Accepted Answer

If demand is elastic, it means that a small change in price leads to a relatively larger change in the quantity demanded. This indicates that the elasticity of demand is greater than 1.

If Demand Is Elastic,then the Elasticity of Demand Is