The Graph Below Illustrates Three Demand Curves

question 163

Multiple Choice

The graph below illustrates three demand curves.

-Refer to the graph above to answer this question.Which of the following statements is correct?

• A)The price elasticity of demand between points A and C on D₃ is 0.267.
• B)The price elasticity of demand between points A and C on D₃ is 0.375.
• C)The demand between points A and C on D₃ is elastic.
• D)The slope of demand curve D₁ and its price elasticity are the same.

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