If a good has a less elastic demand curve:
A)then a small percentage change in price will cause a large change in quantity demanded.
B)then any percentage change in price will take a long time to cause a response in quantity demanded.
C)then a large percentage change in price will cause a small change in quantity demanded.
D)then any percentage change in price will cause an almost immediate response in quantity demanded.

Question

Quizplus · Accepted Answer

A less elastic demand curve means that consumers are less responsive to price changes, so a large percentage change in price results in only a small change in quantity demanded.

If a Good Has a Less Elastic Demand Curve