Exhibit 5.7

-Refer to Exhibit 5.7,which shows four demand curves.At any given price which curve is the least elastic?
A)curve D(1)
B)curve D(2)
C)curve D(3)
D)curve D(4)
E)None of the curves demonstrate elasticity.

Question

Exhibit 5.7
 
-Refer to Exhibit 5.7,which shows four demand curves.At any given price which curve is the least elastic?
A)curve D(1) 
B)curve D(2) 
C)curve D(3) 
D)curve D(4) 
E)None of the curves demonstrate elasticity.

Quizplus · Accepted Answer

Curve D (4) is the least elastic because it is the steepest curve, which means that a change in price will have a smaller effect on the quantity demanded compared to the other three curves.

Exhibit 5.7 -Refer to Exhibit 5.7,which Shows Four Demand Curves.At Any Given