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Refer to Figure 20

Question 74

Multiple Choice

Refer to Figure 20.2.Suppose the areas 0P<sub>1</sub>AB and 0P<sub>2</sub>CD are equal.We can conclude that the price elasticity of demand between point A and point C is A) Elastic. B) Inelastic. C) Unitary elastic. D) Impossible to determine. It depends on whether the price has increased or decreased. Refer to Figure 20.2.Suppose the areas 0P1AB and 0P2CD are equal.We can conclude that the price elasticity of demand between point A and point C is


A) Elastic.
B) Inelastic.
C) Unitary elastic.
D) Impossible to determine. It depends on whether the price has increased or decreased.

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