Exhibit 5-7 Demand curve for concert tickets

-According to Exhibit 5-7, the demand for concert tickets is:
A) inelastic.
B) elastic.
C) unitary elastic
D) perfectly elastic.

Name: Exhibit 5-7 Demand curve for concert tickets -According to Exhibit 5-7, the demand for concert tickets is: A) inelastic. B) elastic. C) unitary elastic D) perfectly elastic.
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Question

Exhibit 5-7 Demand curve for concert tickets
​ 
-According to Exhibit 5-7, the demand for concert tickets is:
A) inelastic. 
B) elastic. 
C) unitary elastic 
D) perfectly elastic.

Quizplus · Accepted Answer

The demand for concert tickets is inelastic because the percentage change in quantity demanded is less than the percentage change in price.

Exhibit 5-7 Demand Curve for Concert Tickets