Answer the Question on the Basis of the Following Demand

question 45

Multiple Choice

Answer the question on the basis of the following demand schedule: $\begin{array}{l}\begin{array}{ccc}&\text { Quantity }\\\underline{\text { Price} } & \underline{\text { Demanded}} \\ \$6 & 1 \\5 & 2 \\4 & 3 \\3 & 4 \\2 & 5 \\1 & 6\end{array}\end{array}$ Refer to the data.The price elasticity of demand is relatively inelastic:

• A) in the $6-$4 price range.
• B) over the entire $6-$1 price range.
• C) in the $3-$1 price range.
• D) in the $6-$5 price range only.

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Definitions:

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportion.

Slices

Discrete segments or portions of a data set, image, or graphic used for detailed analysis or as part of a larger composition.

Whole

A term typically used to describe something that is complete or entire, not missing any parts.

Line Chart

A type of chart which displays information as a series of data points called 'markers' connected by straight line segments, commonly used to visualize data trends over time.