Multiple Choice
Suppose one market demand (D1) has a price elasticity of .65 and a second market demand (D2) has a price elasticity of .80. In comparing price elasticities of demand, it is proper to say that
A) D2 is elastic compared to D1.
B) D2 is inelastic compared to D1.
C) D2 is more inelastic than D1.
D) D2 is more elastic than D1.
E) the elasticity of D1 and D2 is the same.
Correct Answer:
Verified
Correct Answer:
Verified
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