Introduction to Economics 1 Deneme Sınavı Sorusu #1278422

Which of the following is true when the demand is said to be elastic?

Price elasticity of demand is smaller than one

Percentage change in quantity is smaller than the percentage change in price

It means that we are on the inelastic portion of demand curve

The decrease in total revenue from lower quantity is greater than the increase in total revenue from higher price

Total revenue from sales increases

Yanıt Açıklaması:

When the demand is elastic (If we are on the elastic portion of demand curve), then
Price elasticity of demand is greater than 1. Percentage change in Quantity>Percentage change in Price. The decrease in total revenue from lower Quantity is greater than the increase in total revenue from higher Price, so total revenue from sales falls. Answer is D.

PAYLAŞ:

SORUNUN CEVABI: D

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