Multiple Choice
When the price of diamond rings rises by 30 percent,the quantity demanded falls by 10 percent.The price elasticity of demand for diamond rings is ____________,making diamond rings an _______________ good (in this example) .
A) 0.33; inelastic
B) 3.0; elastic
C) 1.0; unit elastic
D) 0.33; elastic
Correct Answer:
Verified
Related Questions
Q66: The price elasticity of demand is
A) always