Digital cameras have a linear demand curve. When price is $100, digital cameras have unit demand...
Digital cameras have a linear demand curve. When price is $100, digital cameras have unit demand elasticity. If price increases to $200, the absolute value of demand elasticity is:
A) Less than 1
B) 1
C) Greater than 1
D) It cannot be determined from the information given
Homework Answers
Ans) the correct option is C) Greater than 1
The demand is elastic above $ 100, and the demand is inelastic less than $ 100
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Digital cameras have a linear demand curve. When price is $100,
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