Question

For a relatively elastic portion of a demand curve, a 100% increase in price will be accompanied by _____.
A.
a percent increase in quantity demanded less than 100%
B.
a percent decrease in quantity demanded less than 100%
C.
a percent decrease in quantity demanded greater than 100%
D.
a percent increase in quantity demanded greater than 100%

Answer 1

B. a percent decrease in quantity demanded less than 100%