-In the Above Figure, at Which Point on the Demand

question 120

Multiple Choice

-In the above figure, at which point on the demand curve is the price elasticity of demand equal to 1?

• A) a
• B) b
• C) c
• D) It is impossible to say at which point the elasticity equals one.

---

Definitions:

Charter Revoked

The act of an authoritative body withdrawing the rights or privileges conveyed by a charter, typically referring to the termination of a corporation's or organization's charter.

Charles II

The king of England, Scotland, and Ireland who reigned during the Restoration period after the English Civil War.

Navigation Laws

Regulations established by the British Parliament between the 1650s and the 1800s to control trade and bolster the maritime strength of Britain by restricting colonial trade to English ships.