FIGURE 4-2
-Refer to Figure 4-2.In diagram 1,the elasticity of demand over the price range $14 to $16 is
A)0.
B)less than 1.
C)1.
D)greater than 1.
E)infinity.

Name: FIGURE 4-2 -Refer to Figure 4-2.In diagram 1,the elasticity of demand over the price range $14 to $16 is A)0. B)less than 1. C)1. D)greater than 1. E)infinity.
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Question

FIGURE 4-2
-Refer to Figure 4-2.In diagram 1,the elasticity of demand over the price range $14 to $16 is
A)0. 
B)less than 1. 
C)1. 
D)greater than 1. 
E)infinity.

Quizplus · Accepted Answer

The elasticity of demand is greater than 1 when a percentage change in price leads to a larger percentage change in quantity demanded, indicating elastic demand.

FIGURE 4-2 -Refer to Figure 4-2.In Diagram 1,the Elasticity of Demand Over