The Figure Given Below Shows the Demand Curves for Five

Multiple Choice

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-If a price increase from $20 to $40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.

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