IB Multiple Choice - Price Elasticity of Demand

Test yourself on IB Multiple Choice - Price Elasticity of Demand

• If demand is elastic, which of these statements is true?

• From the data shown in this table, about demand for smart phones, what is the price elasticity of demand from point B to point C?

• If the price elasticity of demand between points B and C is 0.56, what does this say about elasticity at this point of the curve?

• From the data shown in this table, about demand for smart phones, what is the price elasticity of demand from point D to point E?

• Describe the general appearance of a demand or a supply curve with infinite elasticity.