TABLE 10- 1 -Refer to Table 10- 1,which Displays the Demand Schedule for }

question 53

Multiple Choice

TABLE 10- 1 $$\begin{array} { | l | c | } \hline \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} \\\hline \$ 8 & 5 \\\hline \$ 7 & 6 \\\hline \$ 6 & 7 \\\hline \$ 5 & 8 \\\hline \$ 4 & 9 \\\hline \$ 3 & 10 \\\hline \$ 2 & 11 \\\hline\end{array}$$
-Refer to Table 10- 1,which displays the demand schedule for a single- price monopolist.Which of the following statements about price elasticity of demand is true?

• A)demand is elastic at a price of $5
• B)demand is inelastic at a price of $8
• C)demand is unit- elastic at a price of $4
• D)demand is elastic at a price of $8
• E)demand is elastic at a price of $3

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