If the demand for a good is elastic, the price elasticity of demand is
A) greater than 1.
B) equal to 1.
C) between 0 and 1.
D) less than zero.

Name: If the demand for a good is elastic, the price elasticity of demand is A) greater than 1. B) equal to 1. C) between 0 and 1. D) less than zero.
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Question

Quizplus · Accepted Answer

When demand is elastic, the price elasticity of demand is greater than 1, indicating that the quantity demanded is highly responsive to price changes.

If the Demand for a Good Is Elastic, the Price