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If a 1 Percent Change in the Price of a Good

Question 9

Multiple Choice
If a 1 percent change in the price of a good causes a 1 percent change in the quantity demanded of that good, the price elasticity of demand is A) perfectly elastic. B) elastic. C) unit elastic. D) inelastic. E) perfectly inelastic.

If a 1 percent change in the price of a good causes a 1 percent change in the quantity demanded of that good, the price elasticity of demand is


A) perfectly elastic.
B) elastic.
C) unit elastic.
D) inelastic.
E) perfectly inelastic.

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