If Demand Is Elastic and the Price of a Product

question 334

Multiple Choice

If demand is elastic and the price of a product decreases by 100 percent, then

• A) the change in quantity demanded is less than 100 percent.
• B) the change in quantity demanded is equal to 100 percent.
• C) the change in quantity demanded is greater than 100 percent.
• D) the decrease in quantity demanded is greater than 0 percent.