The following table shows Kate's demand for sub sandwiches. Along Kate's demand curve for sub sandwiches, the price elasticity of demand is:.Table 4.1:
A)equal to zero.
B)less than one.
C)equal to one.
D)greater than one.
E)equal to infinity.

Question

The following table shows Kate's demand for sub sandwiches. Along Kate's demand curve for sub sandwiches, the price elasticity of demand is:.Table 4.1: 
A)equal to zero. 
B)less than one. 
C)equal to one. 
D)greater than one. 
E)equal to infinity.

Quizplus · Accepted Answer

Along Kate's demand curve for sub sandwiches, the price elasticity of demand is greater than 1, indicating that her demand is very responsive to changes in price. This suggests that if the price of sub sandwiches increases, Kate's demand for them will decrease significantly, and vice versa.

The Following Table Shows Kate's Demand for Sub Sandwiches