-In the figure above,if the price falls from $8 to $7,demand is
A) elastic.
B) inelastic.
C) unit elastic.
D) income elastic.
E) perfectly elastic.

Name: -In the figure above,if the price falls from $8 to $7,demand is A) elastic. B) inelastic. C) unit elastic. D) income elastic. E) perfectly elastic.
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Question

-In the figure above,if the price falls from $8 to $7,demand is
A) elastic. 
B) inelastic. 
C) unit elastic. 
D) income elastic. 
E) perfectly elastic.

Quizplus · Accepted Answer

When the price falls from $8 to $7 and demand increases, it indicates that the quantity demanded is responsive to price changes, which is a characteristic of elastic demand.

-In the Figure Above,if the Price Falls from $8 to $7,demand