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Question 12

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Use the following to answer questions:
Figure: The Linear Demand Curve II Use the following to answer questions: Figure: The Linear Demand Curve II -(Figure: The Linear Demand Curve II) Look at the figure Linear Demand Curve II. At prices greater than $7, demand is _____; at prices below $7 demand is _____; and at $7 demand is _____. A) elastic; inelastic; unit-elastic B) inelastic; elastic; unit-elastic C) unit-elastic; inelastic; elastic D) equal to 0; elastic; inelastic
-(Figure: The Linear Demand Curve II) Look at the figure Linear Demand Curve II. At prices greater than $7, demand is _____; at prices below $7 demand is _____; and at $7 demand is _____.


A) elastic; inelastic; unit-elastic
B) inelastic; elastic; unit-elastic
C) unit-elastic; inelastic; elastic
D) equal to 0; elastic; inelastic

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