If quantity demanded falls by 25 percent when price rises by 50 percent, demand is said to be:
A) elastic.
B) inelastic.
C) proportional.
D) unit elastic.

Name: If quantity demanded falls by 25 percent when price rises by 50 percent, demand is said to be: A) elastic. B) inelastic. C) proportional. D) unit elastic.
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Question

Quizplus · Accepted Answer

Demand is inelastic because the percentage change in quantity demanded (25%) is less than the percentage change in price (50%).

If Quantity Demanded Falls by 25 Percent When Price Rises