Exhibit 4-1
-Refer to Exhibit 4-1. The price elasticity of demand is most likely to be elastic
A)at point A.
B)at point B.
C)at point C.
D)anywhere along the demand curve.
E)nowhere along the demand curve.

Question

Exhibit 4-1 
-Refer to Exhibit 4-1. The price elasticity of demand is most likely to be elastic
A)at point A. 
B)at point B. 
C)at point C. 
D)anywhere along the demand curve. 
E)nowhere along the demand curve.

Quizplus · Accepted Answer

At point A, the demand curve is relatively flat, indicating that a small change in price leads to a large change in quantity demanded, which is characteristic of elastic demand.

Exhibit 4-1 -Refer to Exhibit 4-1. the Price Elasticity of Demand Is