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The price elasticity of demand will be __________ if demand is elastic.a. Equal to oneb. Less than onec. More than one
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The price elasticity of demand will be __________ if demand is elastic.a. Equal to oneb. Less than onec. More than one

User Chetan Mehta
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1 Answer

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Answer:

The price elasticity of demand will be more than one if demand is elastic.

Step-by-step explanation:

The price elasticity of demand is measured by the percentage change in the quantity demanded, divided by the percentage change in the price, so when the percentage change in the quantity demanded is bigger than the percentage change in the price, the elasticity is more than one.

User Marc ABOUCHACRA
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