Figure: the Demand Curve (Figure: the Demand Curve)

question 49

Multiple Choice

Figure: The Demand Curve (Figure: The Demand Curve) Look again at the figure The Demand Curve.Using the midpoint method, the price elasticity of demand between $6 and $8 is approximately:

• A)0.23.
• B)0.45.
• C)2.33.
• D)4.5.

---

Definitions:

Faster Response

The ability of a company or system to react swiftly to customer demands or market changes.

Push System

A logistics strategy where products are produced or procured based on anticipated demand and pushed to customers, leading to inventory buildup.

Reducing Inventory

The process of decreasing the amount of goods or materials held in stock to minimize holding costs and increase efficiency.