Multiple Choice
Use the figure below to answer the following question. 
Figure 4.1.1
-Figure 4.1.1 illustrates a linear demand curve.Comparing the price elasticity when price is $3 with the price elasticity when price is $8,we can conclude that
A) demand is more elastic when price is $8.
B) demand is more elastic when price is $3.
C) the price elasticity of demand is equal when price is $8 and when price is $3.
D) demand is elastic when price is $8 and unit elastic when price is $3.
E) demand is inelastic when price is $3 and unit elastic when price is $8.
Correct Answer:
Verified
Correct Answer:
Verified
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