Refer to the Diagram, Which Is a Rectangular Hyperbola, That

question 313

Multiple Choice

Refer to the diagram, which is a rectangular hyperbola, that is, a curve such that each rectangle drawn from any point on the curve will be of identical area. If this rectangular hyperbola was a demand curve, we could say that it would be

• A)elastic at high prices and inelastic at low prices.
• B)elastic at low prices and inelastic at high prices.
• C)impossible to generalize about its elasticity.
• D)of unit elasticity throughout.

---

Definitions:

Petty Cash Account

A small amount of cash kept on hand for making minor business expenses, managed through a system of vouchers for tracking.

Receipts

Documents that acknowledge the receipt of goods or services or the receipt of money.

Currency

The currency system predominantly employed within a specific nation.

Cash Overage

A situation where the amount of cash on hand exceeds the expected amount, often referring to excess cash reported in a cash register.