Final answer:
The demand for a good is described as 'elastic' when the price-elasticity coefficient is greater than 1.
Step-by-step explanation:
The price-elasticity coefficient measures the responsiveness of demand for a good to changes in its price. In this case, the price-elasticity coefficient is 1.75. When the price-elasticity coefficient is greater than 1, demand for the good is considered elastic, meaning that a small change in price will result in a relatively larger change in quantity demanded. So, the demand for this good would be described as elastic (option B).