In the $80 to $40 price range in Figure 20.1, demand is
A) Perfectly price-elastic.
B) Price-inelastic.
C) Unitary elastic.
D) Price-elastic.

Name: In the $80 to $40 price range in Figure 20.1, demand is A) Perfectly price-elastic. B) Price-inelastic. C) Unitary elastic. D) Price-elastic.
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Question

In the $80 to $40 price range in Figure 20.1, demand is
A) Perfectly price-elastic. 
B) Price-inelastic. 
C) Unitary elastic. 
D) Price-elastic.

Quizplus · Accepted Answer

In the $80 to $40 price range in Figure 20.1, demand is price-inelastic because a decrease in price will result in only a small increase in quantity demanded.

In the $80 to $40 Price Range in Figure 20