If the price elasticity of demand for a good is greater than one,then the demand for that good,with respect to price,is:
A)elastic.
B)inelastic.
C)unitary elastic.
D)perfectly elastic.

Question

Quizplus · Accepted Answer

If the percentage change in quantity is greater than the percentage change in price,then the elasticity will be greater than one.When elasticity is greater than one,demand is price elastic.

If the Price Elasticity of Demand for a Good Is