When the price of scooters drops by 5%, the quantity demanded changes by 7%. We know that the price elasticity of demand for scooters is

a. relatively elastic.
b. perfectly inelastic.
c. unitary.
d. relatively inelastic.
e. perfectly elastic.

Question

AndrewHenriquezGiron AndrewHenriquezGiron

03-09-2021
Advanced Placement (AP)

Answered

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When the price of scooters drops by 5%, the quantity demanded changes by 7%. We know that the price elasticity of demand for scooters is

a. relatively elastic.
b. perfectly inelastic.
c. unitary.
d. relatively inelastic.
e. perfectly elastic.

Sagot :

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