Refer to the diagrams. The demand for Firm A's product is
A)perfectly elastic over all ranges of output.
B)perfectly inelastic over all ranges of output.
C)elastic for prices above $1 and inelastic for prices below $1.
D)inelastic for prices above $1 and elastic for prices below $1.

Question

Refer to the diagrams. The demand for Firm A's product is
A)perfectly elastic over all ranges of output. 
B)perfectly inelastic over all ranges of output. 
C)elastic for prices above $1 and inelastic for prices below $1. 
D)inelastic for prices above $1 and elastic for prices below $1.

Quizplus · Accepted Answer

The Answer of  Refer to the diagrams. The demand for Firm A's product is
A)perfectly elastic over all ranges of output. 
B)perfectly inelastic over all ranges of output. 
C)elastic for prices above $1 and inelastic for prices below $1. 
D)inelastic for prices above $1 and elastic for prices below $1.

Refer to the Diagrams