Figure 4.2

-Refer to Figure 4.2. The demand curve B is most likely to have a price elasticity of demand that
A) is greater than 1 for the whole curve
B) is less than 1 for the whole curve.
C) is constant.
D) could be greater than, less than, or equal to 1.
E) is equal to 1 for the whole curve.

Question

Figure 4.2
 
-Refer to Figure 4.2. The demand curve B is most likely to have a price elasticity of demand that
A) is greater than 1 for the whole curve 
B) is less than 1 for the whole curve. 
C) is constant. 
D) could be greater than, less than, or equal to 1. 
E) is equal to 1 for the whole curve.

Quizplus · Accepted Answer

The price elasticity of demand can vary along a demand curve, depending on the specific shape and slope of the curve. It can be greater than 1 (elastic), less than 1 (inelastic), or equal to 1 (unit elastic) at different points.

Figure 4.2 -Refer to Figure 4.2. the Demand Curve B Is Most