Figure 5-4 -Refer to Figure 5-4.The Section of the Demand Curve from Demand

question 63

Multiple Choice

Figure 5-4
-Refer to Figure 5-4.The section of the demand curve from A to B represents the

• A)elastic section of the demand curve.
• B)inelastic section of the demand curve.
• C)unit elastic section of the demand curve.
• D)perfectly elastic section of the demand curve.

---

Definitions:

Owner Withdrawal

The amount of money or assets that the owner takes from the business for personal use.

Utilities Expense

The cost incurred by a business or household for essential services such as electricity, water, and gas.

Utility Bill

A periodic invoice received by consumers for usage of utilities such as electricity, water, natural gas, or sewage services.

Accounts Payable

Accounts Payable are obligations a company has to pay off to its creditors or suppliers within a short period, typically one year or less.