Multiple Choice
Consider the following statements when answering this question.
I. If no consumer has a kinked demand curve for CDs, then the market demand curve for CDs cannot be kinked either.
II. If at a price of $10, every consumer has inelastic demand, then at that price the market demand for CDs will be inelastic too.
A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.
Correct Answer:

Verified
Correct Answer:
Verified
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