Business, 07.07.2020 18:01 taniyasmith

Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. a. When the initial price is high and the initial quantity is low, the percentage change in quantity exceeds the percentage change in price, making demand elastic.
b. When the initial price is low and the initial quantity is high, the percentage change in quantity is less than the percentage change in price, making demand inelastic.
c. When the initial price is low and the initial quantity is high, the percentage change in quantity is less than the percentage change in price, making demand elastic.
d. When the initial price is high and the initial quantity is low, the percentage change in quantity exceeds the percentage change in price, making demand inelastic.

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