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For a relatively elastic portion of a demand curve, a 100% increase in price will be accompanied by…

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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%.




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    1. Quizzma Team

      The correct answer is C. a percent decrease in quantity demanded greater than 100%.

      Explanation: In a relatively elastic portion of the demand curve, the quantity demanded is very responsive to changes in price. A 100% increase in price means the price has doubled. When demand is elastic, the percentage decrease in quantity demanded will exceed the percentage increase in price, typically resulting in a greater than 100% decrease in quantity demanded.

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