(Figure: Market for Avocados) The figure shows the market for avocados. Which of the following is correct about this market between points A and B?
A)The demand curve is elastic, and thus the seller loses revenue by raising price from $1.50 to $1.75.
B)The demand curve is elastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.
C)The demand curve is inelastic, and thus the seller loses revenue by raising price from $1.50 to $1.75.
D)The demand curve is inelastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.

Question

(Figure: Market for Avocados) The figure shows the market for avocados. Which of the following is correct about this market between points A and B? 
A)The demand curve is elastic, and thus the seller loses revenue by raising price from $1.50 to $1.75. 
B)The demand curve is elastic, and thus the seller gains revenue by raising price from $1.50 to $1.75. 
C)The demand curve is inelastic, and thus the seller loses revenue by raising price from $1.50 to $1.75. 
D)The demand curve is inelastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.

Quizplus · Accepted Answer

The Answer of (Figure: Market for Avocados) The figure shows the market for avocados. Which of the following is correct about this market between points A and B? 
A)The demand curve is elastic, and thus the seller loses revenue by raising price from $1.50 to $1.75. 
B)The demand curve is elastic, and thus the seller gains revenue by raising price from $1.50 to $1.75. 
C)The demand curve is inelastic, and thus the seller loses revenue by raising price from $1.50 to $1.75. 
D)The demand curve is inelastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.

(Figure: Market for Avocados) the Figure Shows the Market for Avocados