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Exhibit 5-8 Which of the Following Statements Is True

Question 151

Multiple Choice

Exhibit 5-8 Exhibit 5-8 Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8? A) Demand is elastic. B) Demand is inelastic. C) Demand is unit elastic. D) We cannot tell anything about elasticity of demand because this is a total revenue curve. E) Demand is perfectly elastic. Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8?


A) Demand is elastic.
B) Demand is inelastic.
C) Demand is unit elastic.
D) We cannot tell anything about elasticity of demand because this is a total revenue curve.
E) Demand is perfectly elastic.

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