If demand for a good is elastic, then the price elasticity will be:
A) equal to one.
B) equal to zero.
C) greater than one.
D) less than one.

Name: If demand for a good is elastic, then the price elasticity will be: A) equal to one. B) equal to zero. C) greater than one. D) less than one.
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Question

Quizplus · Accepted Answer

If demand for a good is elastic, it means that a change in price will cause a larger change in the quantity demanded. This is reflected in a price elasticity of greater than one.

If Demand for a Good Is Elastic, Then the Price