Exhibit 5.3

-Refer to Exhibit 5.3,which shows a linear demand curve.Between points B and C,the demand is _____
A)unit elastic.
B)elastic.
C)inelastic.
D)perfectly elastic.
E)perfectly inelastic.

Question

Exhibit 5.3
 
-Refer to Exhibit 5.3,which shows a linear demand curve.Between points B and C,the demand is _____
A)unit elastic. 
B)elastic. 
C)inelastic. 
D)perfectly elastic. 
E)perfectly inelastic.

Quizplus · Accepted Answer

Between points B and C, the demand curve is relatively steep, indicating that a small change in price leads to a larger change in quantity demanded. This suggests that the demand is inelastic, meaning that consumers are not very responsive to changes in price.

Exhibit 5.3 -Refer to Exhibit 5.3,which Shows a Linear Demand Curve.Between Points