Question

price of a good rises by 5% as a result its demand falls by 4%. The demand for the good is a) highly elastic b) perfectly elastic c) perfectly inelastic d) inelastic​

Answer 1

your answer is D→ INELASTIC

Explanation:

bcoz the value of perfectly inelastic is 0 and its elasticity of dand is 0.8 that's why it is enelastic and the value of perfectly elastic is 1.