An elasticity of 0.75 means that a 1% change in price will lead to a _____% change in quantity demanded.
A)0.25
B)0.75
C)2.5
D)7.5

Name: An elasticity of 0.75 means that a 1% change in price will lead to a _____% change in quantity demanded. A)0.25 B)0.75 C)2.5 D)7.5
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Question

Quizplus · Accepted Answer

An elasticity of 0.75 means that a 1% change in price will lead to a 0.75% change in quantity demanded, directly reflecting the definition of elasticity.

An Elasticity of 0