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Figure 7-11 Refer to Figure 7-11. as Price Falls from P A

question 7

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Figure 7-11 Figure 7-11   Refer to Figure 7-11. As price falls from P <sub>A</sub> to P <sub>B</sub>, we could use the three demand curves to calculate three different values of the price elasticity of demand. Which of the three demand curves would produce the smallest elasticity? A)  D <sub>1</sub> B)  D <sub>2</sub> C)  D <sub>3</sub> D)  All of the above are equally elastic.
Refer to Figure 7-11. As price falls from P A to P B, we could use the three demand curves to calculate three different values of the price elasticity of demand. Which of the three demand curves would produce the smallest elasticity?

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