Demand is said to be inelastic when by Prof. Frank Levy @Harvard

Question 7 / 43: 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

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https://www.jobilize.com/microeconomics-practice-multiple-choice-questions-mcq-test-by-prof

Microeconomics Practice MCQ

Author:

Prof.Frank LevyLecturer

Harvard Medical School

USA

Access: Public Instant Grading

Attribution: Levy, Frank. 11.203 Microeconomics, Fall 2010. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-203-microeconomics-fall-2010 (Accessed 13 Mar, 2014). License: Creative Commons BY-NC-SA

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