The following schedule represents a portion of Kate's demand for sub sandwiches. $\begin{array}{cc}
\text { Price } & \text { Quantity Demanded } \
&\text { per Month }\
\$6&3\
\$5&5\
\$4&8
\end{array}$
Along this portion of Kate's demand curve for sub sandwiches, price elasticity of demand is:
A)equal to zero.
B)less than one.
C)equal to one.
D)greater than one.
E)infinite.

Question

The following schedule represents a portion of Kate's demand for sub sandwiches. $\begin{array}{cc}
\text { Price } & \text { Quantity Demanded } \
&\text { per Month }\
\$6&3\
\$5&5\
\$4&8
\end{array}$
 Along this portion of Kate's demand curve for sub sandwiches, price elasticity of demand is:
A)equal to zero.
B)less than one.
C)equal to one.
D)greater than one.
E)infinite.

Quizplus · Accepted Answer

The price elasticity of demand is greater than one because as the price decreases from $6 to $4, the quantity demanded increases significantly from 3 to 8, indicating a relatively elastic demand.

The Following Schedule Represents a Portion of Kate's Demand for Sub