Figure 7-5
Which of the following is true for the demand curve depicted in ?
a.
In the $3 to $4 range, the price elasticity of the demand curve equals 1.
b.
At a price of $3, the price elasticity of the demand curve equals approximately -3.3.
c.
In the $3 to $4 range, the demand curve is inelastic.
d.
In the $3 to $4 range, the demand curve is elastic.
c
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