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For a Certain Good,when Price Rises from $50 to $55,quantity

Question 170

Multiple Choice

For a certain good,when price rises from $50 to $55,quantity demanded falls from 8,400 to 7,500.The price elasticity of demand here is _____________,making the demand for this good ____________ in the price range between $50 and $55.


A) 1.19; inelastic
B) 1.19; elastic
C) 1.45; elastic
D) 0.84; elastic
E) 0.84; inelastic

Correct Answer:

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