-The figure above illustrates a linear demand curve. In the range from $8 to $6
A) the demand is price elastic.
B) the demand is unit elastic.
C) the demand is price inelastic.
D) more information is needed to determine if the demand is price elastic, unit elastic, or inelastic.

Question

-The figure above illustrates a linear demand curve. In the range from $8 to $6
A) the demand is price elastic. 
B) the demand is unit elastic. 
C) the demand is price inelastic. 
D) more information is needed to determine if the demand is price elastic, unit elastic, or inelastic.

Quizplus · Accepted Answer

In the range from $8 to $6, the percentage change in quantity demanded is greater than the percentage change in price, indicating that the demand is price elastic.

-The Figure Above Illustrates a Linear Demand Curve