Exhibit 5­9 Between Points a and B on the Demand

question 7

Multiple Choice

Exhibit 5­9 Between points a and b on the demand curve in Exhibit 5­9, demand is

• A)perfectly elastic
• B)elastic
• C)perfectly inelastic
• D)inelastic
• E)unit elastic

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Definitions:

Stem And Leaf Display

A graphical method of displaying numerical data that helps to retain the individual scores.

Modal Hours

The most frequently occurring hours in a set of data.

Median Number

Median number is the middle value in a list of numbers arranged in order, separating the higher half from the lower half of the dataset.

Mean

The arithmetic average of a dataset, calculated by adding up all the numbers in a dataset and dividing by the count of those numbers.