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Graph 5-2

Question 169

Multiple Choice

Graph 5-2 Graph 5-2 -Refer to Graph 5-2.If there is a four per cent decrease in the price of a good and this leads to a 12 per cent increase in the quantity demanded then the price elasticity is: A) 3 and elastic B) 3 and inelastic C) 0.3 and elastic D) 0.3 and inelastic
-Refer to Graph 5-2.If there is a four per cent decrease in the price of a good and this leads to a 12 per cent increase in the quantity demanded then the price elasticity is:


A) 3 and elastic
B) 3 and inelastic
C) 0.3 and elastic
D) 0.3 and inelastic

Correct Answer:

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