If the demand for movie tickets is elastic,then A)Ed 1. B)Ed

Name: If the demand for movie tickets is elastic,then A)Ed > 1. B)Ed < 1. C)Ed = 1. D)Ed = 0.
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Question

If the demand for movie tickets is elastic,then
A)Ed > 1.
B)Ed < 1.
C)Ed = 1.
D)Ed = 0.

Quizplus · Accepted Answer

If the demand for movie tickets is elastic, it means that a small change in price will lead to a relatively larger change in quantity demanded. In other words, the absolute value of the price elasticity of demand (Ed) is greater than 1. Therefore, choice A is the correct answer.

If the Demand for Movie Tickets Is Elastic,then