Which of the Following Illustrates Elastic Demand

question 110

Multiple Choice

Which of the following illustrates elastic demand?

• A)A 10% increase in price causes a 5% decrease in quantity demanded.
• B)A 10% increase in price causes a 20% decrease in quantity demanded.
• C)a price elasticity of 0.8
• D)a price elasticity of 1.0
• E)A 10% increase in price causes a 10% reduction in quantity demanded.

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