In a typical demand curve,the price elastic portion of demand is found in the ________ region and the price inelastic portion of demand is found in the ________ region of the graph.
A) middle; lower
B) lower; upper
C) upper; lower
D) middle; middle
E) None of these choices are correct.

Question

Quizplus · Accepted Answer

In a typical demand curve, the price elastic portion of demand is found in the upper region, where small changes in price cause a large change in quantity demanded. The price inelastic portion of demand is found in the lower region, where changes in price have a relatively small effect on quantity demanded. Therefore, choice C is the best answer.

In a Typical Demand Curve,the Price Elastic Portion of Demand