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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

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