At all points above the midpoint of a downward-sloping,linear demand curve for a good,the value of the price elasticity of demand for the good is ________.
A) equal to one
B) equal to zero
C) greater than one
D) less than one, but greater than zero

Question

Quizplus · Accepted Answer

At all points above the midpoint of a downward-sloping, linear demand curve, the price elasticity of demand is greater than one, indicating elastic demand. This is because, in this region, a percentage change in price leads to a larger percentage change in quantity demanded.

At All Points Above the Midpoint of a Downward-Sloping,linear Demand