Exhibit 6-3

-Refer to Exhibit 6-3. The graph that best illustrates a relatively inelastic (but not perfectly inelastic) range along a demand curve is:
A)Graph A.
B)Graph B.
C)Graph C.
D)Graph D.

Question

​Exhibit 6-3
​ 
-Refer to Exhibit 6-3. The graph that best illustrates a relatively inelastic (but not perfectly inelastic) range along a demand curve is:
A)​Graph A. 
B)​Graph B. 
C)​Graph C. 
D)​Graph D.

Quizplus · Accepted Answer

Graph C illustrates a relatively inelastic range along a demand curve. In this range, changes in price have a relatively small effect on the quantity demanded. It is not perfectly inelastic because there is still some responsiveness to the price change, as seen by the slight slope of the curve. Graphs A, B, and D all illustrate different levels of elasticity and do not show a relatively inelastic range.

​Exhibit 6-3 ​

Exhibit 6-3