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Figure 7-5 -Which of the Following Is True for the Demand Curve

Question 67

Multiple Choice

Figure 7-5 Figure 7-5 -Which of the following is true for the demand curve depicted in Figure 7-5? A) In the $3 to $4 range, the price elasticity of the demand curve equals 1. B) At a price of $3, the price elasticity of the demand curve equals approximately −3.3. C) In the $3 to $4 range, the demand curve is inelastic. D) In the $3 to $4 range, the demand curve is elastic.
-Which of the following is true for the demand curve depicted in Figure 7-5?

A) In the $3 to $4 range, the price elasticity of the demand curve equals 1.
B) At a price of $3, the price elasticity of the demand curve equals approximately −3.3.
C) In the $3 to $4 range, the demand curve is inelastic.
D) In the $3 to $4 range, the demand curve is elastic.

Correct Answer: