When the percentage change in the quantity demanded exceeds the percentage change in price, then demand is: Question 6 options: inelastic unit elastic elastic irrelevant Question 7 (1 point) When the percentage change in the quantity demanded is less than the percentage change in price, then demand is : Question 7 options: inelastic unit elastic elastic irrelevant Question 8 (1 point) If the percentage change in the quantity demanded is not zero but is less than the percentage change in the price, demand is: Question 8 options: elastic inelastic unit elastic perfectly elastic Question 9 (1 point) If the price elasticity of demand for razors is 0.32, the demand for razors is: Question 9 options: elastic unit elastic inelastic perfectly inelastic Question 10 (1 point) Perfectly inelastic demand means that consumers: Question 10 options: are willing to buy any quantity of the good at a given price, but none at higher prices. decrease their consumption as price rises. increase their consumption as price rises. will buy a certain quantity, regardless of price