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Refer to the Above Graph

Question 2

Multiple Choice

Refer to the above graph. When the quantity of product X sold increases from 8,000 to 10,000, the price elasticity of demand for product X over that range is: A) elastic. B) inelastic. C) unit-elastic. D) perfectly inelastic. Refer to the above graph. When the quantity of product X sold increases from 8,000 to 10,000, the price elasticity of demand for product X over that range is:


A) elastic.
B) inelastic.
C) unit-elastic.
D) perfectly inelastic.

Correct Answer:

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