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)

Question

Responses

There will be a demand decrease greater than the size of price change.
There will be a demand decrease greater than the size of price change.

There will be an increase in quantity demanded.
There will be an increase in quantity demanded.

There will be a demand decrease less than the size of the price change.
There will be a demand decrease less than the size of the price change.

There will be no change in demand.

Answer 1

If a section of a demand curve is elastic, an increase in price will lead to a decrease in quantity demanded that is greater than the size of the price change. Therefore, the correct response is:

There will be a demand decrease greater than the size of price change.