Which One of the Following Illustrates an Elastic Demand

question 20

Multiple Choice

Which one of the following illustrates an elastic demand?

• A)A 10 percent rise in price leads to a 5 percent decrease in quantity demanded.
• B)A 10 percent rise in price leads to a 20 percent decrease in quantity demanded.
• C)A price elasticity of demand equal to 0.2.
• D)A price elasticity of demand equal to 1.0.
• E)A price elasticity of demand equal to zero.

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