Exhibit 5-6 Demand curve for concert tickets

In Exhibit 5-6, the demand curve for concert tickets shown above between the prices of $20 and $30 is
A) inelastic.
B) elastic.
C) unitary elastic.
D) cross elastic.

Question

Exhibit 5-6 Demand curve for concert tickets
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In Exhibit 5-6, the demand curve for concert tickets shown above between the prices of $20 and $30 is
A) inelastic. 
B) elastic. 
C) unitary elastic. 
D) cross elastic.

Quizplus · Accepted Answer

The demand curve for concert tickets shown between the prices of $20 and $30 is relatively flat, indicating that a small change in price will result in a larger change in quantity demanded. This shows that the demand is elastic.

Exhibit 5-6 Demand Curve for Concert Tickets