Which of the following statements about elasticity of demand is false? A. A consumer with highly elastic demand for a good is very responsive to price changes. B. Demand for a good can be highly elastic at one price and inelastic at a different price. C. If the elasticity of demand for a good at a certain price is equal to or less than one, demand is elastic. D. To calculate elasticity, divide the percentage change in the demand of a good by the percentage change in its price.

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Physics

Giancarlo Vaughan

21 March, 13:10

Which of the following statements about elasticity of demand is false? A. A consumer with highly elastic demand for a good is very responsive to price changes. B. Demand for a good can be highly elastic at one price and inelastic at a different price. C. If the elasticity of demand for a good at a certain price is equal to or less than one, demand is elastic. D. To calculate elasticity, divide the percentage change in the demand of a good by the percentage change in its price.

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Rodolfo · Answer 1

The statement that is false is C. If the elasticity of demand for a good at a certain price is equal to or less than one, demand is elastic.

It is the opposite. if the demand elasticity is equal to or less than one, it should be inelastic.