Refer to Figure 20

question 14

Multiple Choice

Refer to Figure 20.2. If the area 0P₁AB is less than the area 0P₂CD, we can conclude that the price elasticity of demand between point A and point C is

• A) Elastic.
• B) Inelastic.
• C) Unitary elastic.
• D) Impossible to determine. It depends on whether the price has increased or decreased.

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