Card 9 / 47: Demand is said to be inelastic when:
A)
the percentage change in quantity demanded is greater than the percentage change in price of a good
B)
in a linear demand curve, quantity demanded is close to zero (given the price) so that the percentage change in quantity demanded will be very high
C)
the percentage change in price exceeds the percentage change in quantity demanded of a good
D)
a relatively small change in price results in a relatively big change in quantity demanded
Answer:
C) the percentage change in price exceeds the percentage change in quantity demanded of a good
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