Multiple Choice
-Refer to the graph above to answer this question.Which of the following statements is correct?
A) The demand curves in graphs I,II and III are,respectively,perfectly elastic,inelastic and perfectly inelastic.
B) The demand curves in graphs I,II and III are,respectively,perfectly inelastic,inelastic and perfectly elastic.
C) The demand curves in graphs I,II and III are,respectively,perfectly inelastic,unitary elastic and perfectly elastic.
D) All three demand curves have an elastic and an inelastic portion to them.
Correct Answer:
Verified
Correct Answer:
Verified
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