Question

If a section of a demand curve is elastic, what will happen to the quantity demanded if there is an increase in price?

There will be a demand decrease less than the size of the price change.
There will be an increase in quantity demanded.
There will be a demand decrease greater than the size of price change.
There will be no change in demand.

Answer 1

If a section of a demand curve is elastic, there will be a demand decrease greater than the size of the price change.