The figure given below shows the demand curves for five products: A,B,C,D,andE. Figure 5.1

- Refer to Figure 5.1.Which of the following is true of the demand curve for A?
A)Consumers purchase any quantity regardless of the price.
B)There is no change in quantity demanded as the price changes.
C)A small price change will cause consumers to change their consumption by a much larger quantity.
D)The smallest price increase will cause consumers to switch to the producer with a lower price.
E)The price elasticity of demand for A is equal to 1.

Question

The figure given below shows the demand curves for five products: A,B,C,D,andE. Figure 5.1

- Refer to Figure 5.1.Which of the following is true of the demand curve for A?
A)Consumers purchase any quantity regardless of the price. 
B)There is no change in quantity demanded as the price changes. 
C)A small price change will cause consumers to change their consumption by a much larger quantity. 
D)The smallest price increase will cause consumers to switch to the producer with a lower price. 
E)The price elasticity of demand for A is equal to 1.

Quizplus · Accepted Answer

The Answer is B

The Figure Given Below Shows the Demand Curves for Five