-Refer to the above table. For which prices is demand elastic?
A) In a range of prices below $6.50
B) In a range of prices above $6.50
C) In a range of prices between $5 and $10
D) In a range of prices above $9.00

Question

-Refer to the above table. For which prices is demand elastic?
A) In a range of prices below $6.50 
B) In a range of prices above $6.50 
C) In a range of prices between $5 and $10 
D) In a range of prices above $9.00

Quizplus · Accepted Answer

Demand is elastic in a range of prices above $6.50 because, typically, as prices increase, the quantity demanded decreases at a higher rate, indicating elasticity.

-Refer to the Above Table