Use the Following to Answer Question(s): Demand, Elasticity, and Total

question 18

Multiple Choice

Use the following to answer question(s) : Demand, Elasticity, and Total Revenue

-(Exhibit: Demand, Elasticity, and Total Revenue) In Panel (a) , which of the following is true?

• A) Between points A and M, the price elasticity of demand is elastic.
• B) Between points F and A, the price elasticity of demand is inelastic.
• C) At any price other than P, total revenue will be greater.
• D) All of the above statements are false.