-Consider the Above Figure

question 33

Multiple Choice

-Consider the above figure. Which of the following statements is correct?

• A) In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D₁ is equal to the price elasticity of demand associated with demand curve D₂.
• B) In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D₁ is less than the price elasticity of demand associated with demand curve D₂.
• C) In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D₁ is greater than the price elasticity of demand associated with demand curve D₂.
• D) In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand is infinite.

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