Case-Based Critical Thinking Questions

Multiple Choice

Case-Based Critical Thinking Questions
Case 10-1
You have been having some difficulty in your economics class this semester,so you have requested support from a tutor.One topic that is giving you trouble at the moment is the price elasticity of demand.
-Increasing the price of an object by 10% decreases demand by 20%.This is an example of what kind of elasticity,according to your tutor?

A) Relatively inelastic
B) Perfectly inelastic
C) Relatively elastic
D) Perfectly elastic