-In the above figure, over the price range P₁P₂, demand is A) unit elastic. B) elastic. C) inelastic. D) perfectly elastic.

Name: -In the above figure, over the price range P 1 P 2 , demand is A) unit elastic. B) elastic. C) inelastic. D) perfectly elastic.
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Question

Quizplus · Accepted Answer

Demand is elastic over the price range P1P2 if the percentage change in quantity demanded is greater than the percentage change in price.

-In the Above Figure, Over the Price Range P1P2, Demand

-In the Above Figure, Over the Price Range P₁P₂, Demand