Homework answers / question archive / For each of the letters below, indicate if demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unitary elastic: a

For each of the letters below, indicate if demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unitary elastic: a

Economics

Share With

For each of the letters below, indicate if demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unitary elastic:

a.   Price rises by 10 percent, and quantity demanded falls by 2 percent.

b.  Price falls by 5 percent, and quantity demanded rises by 4 percent.

c.   Price falls by 6 percent, and quantity demanded does not change.

d.  Price rises by 2 percent, and quantity demanded falls by 1 percent.