Demand is inelastic if
A) the percentage change in price is greater than the percentage change in quantity demanded
B) the percentage change in price is less than the percentage change in quantity demanded
C) the percentage change in price is equal to the percentage change in quantity demanded
D) the value of price elasticity is equal to -1
E) the value of price elasticity is less than -1
Correct Answer:
Verified
Q33: If an increase in the price of
Q34: If demand is inelastic, the percentage change
Q35: Demand is unit elastic whenever
A)price elasticity has
Q36: Price elasticity of demand is calculated as
A)the
Q37: A perfectly inelastic demand curve is
A)a vertical
Q39: A perfectly elastic demand curve is
A)a vertical
Q40: Exhibit 5-3 Q41: If demand is elastic, a decrease in Q42: If a firm raises the price of Q43: Exhibit 5-5 
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