Moving along a demand curve, quantity demanded decreases 8 percent when price increases 10 percent.
a. The price elasticity of demand is calculated to be __________.
b. Given the price elasticity calculated in part a, demand is __________(elastic, inelastic, unitary elastic) along this portion of the demand curve.
c. For this interval of demand, the percentage change in quantity in absolute value is__________ (greater than, less than, equal to) the percentage change in price in absolute value.