-Refer to the above table. At a price below $5, the absolute price elasticity of demand is
A) 1.0.
B) below 1.
C) between 0.8 and 1.0.
D) greater than 1.

Name: -Refer to the above table. At a price below $5, the absolute price elasticity of demand is A) 1.0. B) below 1. C) between 0.8 and 1.0. D) greater than 1.
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Question

-Refer to the above table. At a price below $5, the absolute price elasticity of demand is
A) 1.0. 
B) below 1. 
C) between 0.8 and 1.0. 
D) greater than 1.

Quizplus · Accepted Answer

The absolute price elasticity of demand is below 1 because the percentage change in quantity demanded is less than the percentage change in price.

-Refer to the Above Table