-Refer to the above figure. Demand will be elastic when quantity is between
A) 0 and A.
B) 0 and B.
C) A and B.
D) B and C.

Name: -Refer to the above figure. Demand will be elastic when quantity is between A) 0 and A. B) 0 and B. C) A and B. D) B and C.
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Question

-Refer to the above figure. Demand will be elastic when quantity is between
A) 0 and A. 
B) 0 and B. 
C) A and B. 
D) B and C.

Quizplus · Accepted Answer

Demand is elastic when the percentage change in quantity demanded is greater than the percentage change in price. This occurs when the demand curve is relatively flat, which is the case between points 0 and A.

-Refer to the Above Figure