Assume the Demand Curve for Skirts in Europe Is P

question 22

Multiple Choice

Assume the demand curve for skirts in Europe is P = 100 - Q_E (or Q_e=100 - P) , while the U.S demand is P = 100 - ¼Q_US. (or Q_us = 400 - 4P) . Over the range of prices which demand is more price elastic?

• A) U.S. demand is more elastic.
• B) European demand is more elastic.
• C) It depends on the price level.
• D) U.S. and European demand have the same elasticity for any price level.

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