Moving along a demand curve, quantity demanded decreases 21 percent whenprice increases7 percent. 1 answer below »

Moving along a demand curve, quantity demanded decreases 21 percent whenprice increases7 percent.

a. The price elasticity of demand elasticity is calculated to be _______.

b. Given the price elasticity calculated in part a, demand is ____________(elastic, inelastic,unitary elastic) along this portion of the demand curve.

c. For this interval of demand, the percentage change in quantity is_____________ (greaterthan, less than, equal to) the percentage change in price.

 

 

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