If price increases 6% and the quantity exchanged increases 4%, what does that tell us about the elasticity of demand?
A)Demand is elastic.
B)Demand is unit elastic.
C)Demand is inelastic.
D)It tells us nothing about the elasticity of demand.

Question

If price increases 6% and the quantity exchanged increases 4%, what does that tell us about the elasticity of demand?
A)​Demand is elastic.
B)​Demand is unit elastic.
C)​Demand is inelastic.
D)​It tells us nothing about the elasticity of demand.

Quizplus · Accepted Answer

The Answer of If price increases 6% and the quantity exchanged increases 4%, what does that tell us about the elasticity of demand?
A)​Demand is elastic.
B)​Demand is unit elastic.
C)​Demand is inelastic.
D)​It tells us nothing about the elasticity of demand.

If Price Increases 6% and the Quantity Exchanged Increases 4