Assuming Elasticity Is Reported in Absolute Value,a Measured Price Elasticity

question 51

Multiple Choice

Assuming elasticity is reported in absolute value,a measured price elasticity of demand of 0.4 would indicate:

• A)an elastic demand,meaning the percentage change in quantity demanded will be greater than the percentage change in price.
• B)an inelastic demand,meaning the percentage change in quantity demanded will be greater than the percentage change in price.
• C)an elastic demand,meaning the percentage change in quantity demanded will be less than the percentage change in price.
• D)an inelastic demand,meaning the percentage change in quantity demanded will be less than the percentage change in price.

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