The price elasticity of demand can range between
A) zero and infinity.
B) negative one and one.
C) negative infinity and infinity.
D) zero and one.

Question

Quizplus · Accepted Answer

The price elasticity of demand can range between zero and infinity because it measures the responsiveness of quantity demanded to changes in price. A value of zero indicates that quantity demanded is completely unresponsive to changes in price, while a value of infinity indicates that quantity demanded is perfectly responsive to changes in price.

The Price Elasticity of Demand Can Range Between