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Figure: Two Demand Curves in the Figure, Demand Curve

Question 24

Multiple Choice

Figure: Two Demand Curves Figure: Two Demand Curves In the figure, demand curve _____ is the least elastic demand curve, and the lost gains from trade because of a tax are greater with demand curve _____. A) D<sub>1</sub>; D<sub>1</sub> B) D<sub>2</sub>; D<sub>2</sub> C) D<sub>1</sub>; D<sub>2</sub> D) D<sub>2</sub>; D<sub>1</sub> In the figure, demand curve _____ is the least elastic demand curve, and the lost gains from trade because of a tax are greater with demand curve _____.


A) D1; D1
B) D2; D2
C) D1; D2
D) D2; D1

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