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A 10% rise in the price of a good reduces the quantity demanded by 4%. The demand for the good is

943Medium DSSSB TGT Computer Science 0 replies

A 10% rise in the price of a good reduces the quantity demanded by 4%. The demand for the good is

  • Aelastic
  • Bunitary elastic
  • Cperfectly elastic
  • Dinelastic
Correct answer: D

Explanation

Price elasticity = 4/10 = 0.4, which is less than 1, so demand is inelastic.
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