-Refer to the table above. Starting at a $1 price, at what price range does demand become elastic?
A) $1-2
B) $2-3
C) $3-4
D) $4-5

Name: -Refer to the table above. Starting at a $1 price, at what price range does demand become elastic? A) $1-2 B) $2-3 C) $3-4 D) $4-5
Brand: Quizplus
Rating: 5.0 (36 reviews)

Question

-Refer to the table above. Starting at a $1 price, at what price range does demand become elastic?
A) $1-2 
B) $2-3 
C) $3-4 
D) $4-5

Quizplus · Accepted Answer

Demand becomes elastic when the percentage change in quantity demanded is greater than the percentage change in price. This typically occurs as the price increases and consumers become more sensitive to price changes.

-Refer to the Table Above