Figure 5-1 -Refer to Figure 5-1.Assume,for the Good in Question,two Specific Points

question 125

Multiple Choice

Figure 5-1

-Refer to Figure 5-1.Assume,for the good in question,two specific points on the demand curve are (Q = 1,000,P = $40) and (Q = 1,500,P = $30) .Then which of the following scenarios is possible?

• A)Both of these points lie on section C of the demand curve.
• B)The vertical intercept of the demand curve is the point (Q = 0, P = $60).
• C)The horizontal intercept of the demand curve is the point (Q = 1,800, P = $0).
• D)Any of these scenarios is possible.

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