Exhibit 5-8 Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8?
A)Demand is elastic.
B)Demand is inelastic.
C)Demand is unit elastic.
D)We cannot tell anything about elasticity of demand because this is a total revenue curve.
E)Demand is perfectly elastic.

Question

Exhibit 5-8  Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8?
A)Demand is elastic. 
B)Demand is inelastic. 
C)Demand is unit elastic. 
D)We cannot tell anything about elasticity of demand because this is a total revenue curve. 
E)Demand is perfectly elastic.

Quizplus · Accepted Answer

The Answer of Exhibit 5-8  Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8?
A)Demand is elastic. 
B)Demand is inelastic. 
C)Demand is unit elastic. 
D)We cannot tell anything about elasticity of demand because this is a total revenue curve. 
E)Demand is perfectly elastic.

Exhibit 5-8 Which of the Following Statements Is True