Answer the Question Based on the Following Data

question 151

Multiple Choice

Answer the question based on the following data. Over which of the following price ranges is the demand unit-elastic?

• A)$18-16
• B)$16-$14
• C)$14-$12
• D)$12-$10

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Definitions:

State Court

A court that has jurisdiction over disputes pertaining to state laws and constitutions.

Diversity Jurisdiction

A principle in United States federal law allowing federal courts to hear cases where the parties are from different states or countries and the amount in controversy exceeds a specified threshold.

Federal Court

A court established under the federal government’s authority, with jurisdiction over matters specifically enumerated in the constitution or federal statutes.

Product Liability

The legal liability of manufacturers, sellers, and lessors of goods to consumers, users, and bystanders for injuries or damages that are caused by the goods.