Which of the Following Statements About the Price Elasticity of Demand

question 117

Multiple Choice

Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?

• A)It is inelastic at high prices and elastic at low prices.
• B)It is unit elastic throughout the demand curve.
• C)It is elastic at the highest prices and inelastic at the lowest prices.
• D)It is perfectly elastic at very high prices and perfectly inelastic at very low prices.

---

Definitions:

Social Order

The arrangement of practices and behaviors in society that maintains stability and predictability through established norms, laws, and social structures.

Resistant

The act of opposing, standing firm against, or withstanding the pressure or effect of something.

Regressive

Describing an action or policy that tends to favor the wealthy or privileged, often at the expense of the less well-off, by reducing progress made in social equality.

Religious Integration

The incorporation or blending of religious beliefs and practices into the cultural and social institutions of a society.