Demand is more elastic at lower prices than at higher prices.

Name: Demand is more elastic at lower prices than at higher prices.
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Question

Quizplus · Accepted Answer

Demand elasticity typically increases at higher prices because consumers become more sensitive to price changes when the price is high, seeking alternatives or reducing consumption, whereas at lower prices, the percentage change in quantity demanded is usually less sensitive to price changes.

Demand Is More Elastic at Lower Prices Than at Higher