Question

Holding everything else constant, the absolute value of the price elasticity of demand for Saucony tennis shoes is ________ the price elasticity of demand for tennis shoes in general. Group of answer choicesA) less than B) equal toC) twice as great as D) greater than

Answer 1

Step-by-step explanation:

Holding everything else constant, the absolute value of the price elasticity of demand for Saucony tennis shoes is greater than the price elasticity of demand for tennis shoes in general.The greater than one elasticity of supply means that the percentage change in quantity supplied will be greater than a one percent price change.