Use Figure 1 to answer questions
Figure SEQ Figure 1: Elasticities of Demand
-Which of the graphs illustrate a good whose percentage change in quantity demanded is greater than the percentage change in price?
A)Graph A
B)Graph B
C)Graph C
D)Graph D

Question

Use Figure 1 to answer questions 
Figure SEQ Figure  1: Elasticities of Demand 
-Which of the graphs illustrate a good whose percentage change in quantity demanded is greater than the percentage change in price?
A)Graph A 
B)Graph B 
C)Graph C 
D)Graph D

Quizplus · Accepted Answer

Graph B illustrates a good with a relatively elastic demand, where the percentage change in quantity demanded is greater than the percentage change in price. This means that consumers are more responsive to price changes for this good, leading to larger changes in quantity demanded compared to the changes in price.

Use Figure 1 to Answer Questions