The diagram illustrates a demand curve for pineapples. What happens to the value of price elasticity of demand (PED) when moving from point X to point Y, and how is the value at point Y described?
- Aeffect on value of PED: fall; value of PED at Y: elastic
- Beffect on value of PED: fall; value of PED at Y: inelastic
- Ceffect on value of PED: rise; value of PED at Y: elastic
- Deffect on value of PED: unchanged; value of PED at Y: unitary