If the price elasticity of demand for aspirin equals -3 then O the demand for aspirin is elastic

1) The correct option is A. the demand for aspirin is elastic.

Because, in the price elasticity of demand (E_??????p?????) the negative sign is ignored and only the magnitude of the value is considered. So, the price elasticity is 3.

The condition of Price elasticity of demand (E_??????p???) is followed

If, E_d = 1(unitary elasticity)

If, E_????d < 1(inelastic)

If, E_??????d > 1(elastic)

Here the price elasticity demand is greater than 1 so, the demand for aspirin is elastic.

2) The correct option is B. The price of the good.

Because if demand changes with some other factor like substitute good price, complementary good price and buyer’s income then the demand curve is shifted and when the demand changes due to change in price of the good then her the demand increases or decreases, but does not shift. So, here the price of the goods is not a cause for the shift of the demand curve.