Use the Following Figure to Answer the Question

question 72

Multiple Choice

Use the following figure to answer the question :
-Which statement is most likely true about the demand curve in the graph?

• A)Point R is unit elastic, while point S is very inelastic.
• B)Point T is very inelastic, while point Q is very elastic.
• C)Point Q is very inelastic, while point T is very elastic.
• D)Point Q is slightly elastic, while point S is very inelastic.

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Definitions:

Peanut Butter

A food paste or spread made from ground dry roasted peanuts, often used in sandwiches and as a base in various recipes.

Demand

The desire and ability of consumers to purchase goods or services at a given price level.

Demand

The willingness and ability of consumers to purchase goods or services at a given price.

Price

The total money amount demanded for the purchase of a service or good.