Demand tends to be more price elastic at _____ prices and more price inelastic at _____ prices.
A) lower; lower
B) lower; higher
C) higher; higher
D) higher; lower

Question

Quizplus · Accepted Answer

Demand tends to be more price elastic at higher prices because consumers are more sensitive to price changes when the price is high, and more price inelastic at lower prices because consumers are less sensitive to price changes when the price is low.

Demand Tends to Be More Price Elastic at _____ Prices