Suppose That the Inverse Demand Curve for a Well-Known Sports

question 115

Multiple Choice

Suppose that the inverse demand curve for a well-known sports car can be expressed as , where price is in dollars and quantity is in numbers of cars. What is true about the demand for these sports cars at a quantity of 100?

• A) Demand is inelastic because the absolute value is greater than 0 and less than 1.
• B) Demand is inelastic because the absolute value is greater than 1.
• C) Demand is elastic because the absolute value is greater than 0 and less than 1.
• D) Demand is elastic because the absolute value is greater than 1.

---

Definitions:

Extended

Prolonged or continued beyond the usual or expected duration.

Perverse Triangle

Coalition of two members ganging up against another, such as a parent siding with children against the other parent; unhealthy coalition.

Parentified Child

A child becomes like a parent, taking on adult responsibilities in the family.

Detouring Coalition

Child or other family member is the scapegoat for the family’s problems, parental conflict is taken out on the child, and stress is detoured from the real cause.