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18 June, 08:54

When the price of keyboards changes, the % change in the price of keyboards is greater than the % change in the quantity of keyboards demanded. Which of the following best describes the price elasticity of demand for keyboards

A. Infintely elastic

B. elastic

C. inelastic

D. Unitary elastic

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Answers (1)
  1. 18 June, 09:11
    0
    The correct answer is C. inelastic

    Explanation:

    Demand is said to be price inelastic when a change in price causes a smaller percentage change in demand. It occurs where there is a price elasticity of demand (PED) of less than one.
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