The graph below illustrates three demand curves.
-Refer to the graph above to answer this question.Which of the following statements is correct?
A) The price elasticity of demand between points A and B on D2 is 0.5.
B) D1 illustrates an inferior good.
C) The slope of all three demand curves is constant.
D) The shift from D1 to D2 could illustrate a change in the quantity demanded for a product as a result of a decrease in the price of a substitute good.
Correct Answer:
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