Exhibit 5-8 -Which of the Following Statements Is True in the Range

question 55

Multiple Choice

Exhibit 5-8
-Which of the following statements is true in the range of the total revenue curve labeled A in Exhibit 5-8?

• A) Demand is elastic.
• B) Demand is inelastic.
• C) Demand is unit elastic.
• D) We cannot tell anything about elasticity of demand because this is a total revenue curve.
• E) Demand is perfectly elastic.

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