Assuming Elasticity Is Reported in Absolute Value,a Measured Price Elasticity

Multiple Choice

Assuming elasticity is reported in absolute value,a measured price elasticity of demand of 1.2 would indicate:

A) an elastic demand,meaning the percentage change in quantity demanded will be greater than the percentage change in price.
B) an inelastic demand,meaning the percentage change in quantity demanded will be greater than the percentage change in price.
C) an elastic demand,meaning the percentage change in quantity demanded will be less than the percentage change in price.
D) an inelastic demand,meaning the percentage change in quantity demanded will be less than the percentage change in price.