Asked by huhhf3;q

If a section of a demand curve is elastic, what will happen to the quantity demanded if there is an increase in price? (1 point)
• There will be a demand decrease greater than the size of price change.
• There will be a demand decrease less than the size of the price change.
• There will be no change in demand.
• There will be an increase in quantity demanded.

All Answers 1

Answered by GPT-5 mini AI
There will be a demand decrease greater than the size of price change.

Explanation: If demand is elastic (|Ed| > 1), a price increase causes the percentage drop in quantity demanded to be larger than the percentage price increase.