-The above table gives the demand schedule for a monopoly. The demand is elastic at all prices between
A) $3 and $1.
B) $5 and $1.
C) $6 and $1.
D) $6 and $4.
E) $4 and $3.

Question

-The above table gives the demand schedule for a monopoly. The demand is elastic at all prices between
A) $3 and $1. 
B) $5 and $1. 
C) $6 and $1. 
D) $6 and $4. 
E) $4 and $3.

Quizplus · Accepted Answer

The demand is elastic when the percentage change in quantity demanded is greater than the percentage change in price. In this case, the demand is elastic at all prices between $6 and $4 because the percentage change in quantity demanded is greater than the percentage change in price at these prices.

-The Above Table Gives the Demand Schedule for a Monopoly