The table below shows the demand schedule for museum admissions in a small city.
TABLE 4-1
-Refer to Table 4-1.The elasticity of demand for museum admissions is
A)greater at higher prices than at lower prices.
B)elastic at all points on the demand curve.
C)inelastic at all points on the demand curve.
D)greater at lower prices than at higher prices.
E)constant at all points on the demand curve.

Question

The table below shows the demand schedule for museum admissions in a small city.
  TABLE 4-1
-Refer to Table 4-1.The elasticity of demand for museum admissions is
A)greater at higher prices than at lower prices. 
B)elastic at all points on the demand curve. 
C)inelastic at all points on the demand curve. 
D)greater at lower prices than at higher prices. 
E)constant at all points on the demand curve.

Quizplus · Accepted Answer

The elasticity of demand is typically greater at higher prices because consumers are more sensitive to price changes when the price is high, leading to larger percentage changes in quantity demanded.

The Table Below Shows the Demand Schedule for Museum Admissions