-Refer to the graph above to answer this question.Which of the following statements is correct? A)Demand curve D₂ is the inelastic portion of a curve that could be extended upward to the left. B)Demand curve D₁ is the elastic portion of a curve that could be extended upward to the left. C)Demand curve D₂ is more elastic than D₁. D)Demand curve D₂ is perfectly inelastic.

Question

Quizplus · Accepted Answer

The demand curve described as inelastic and that could be extended upward to the left typically represents a portion of a demand curve where consumers are less responsive to price changes. This is characteristic of inelastic demand.

-Refer to the Graph Above to Answer This Question