Figure 4-5 -Refer to Figure 4-5.As Price Falls from PA to PB,the

question 181

Multiple Choice

Figure 4-5
-Refer to Figure 4-5.As price falls from PA to PB,the quantity demanded increases most along D₁; therefore,

• A) D₁ is unit elastic.
• B) D₁ is more inelastic than D₂ or D₃.
• C) D₁ is more elastic than D₂ or D₃
• D) D₁ is elastic at PA but inelastic at PB.

---

Definitions:

Gambling

The act of wagering money or valuables on the outcome of a game or event with an uncertain result, with the primary intent of winning additional money or goods.

Real Defense

A legal defense that is valid against all the world, including bona fide purchasers or holders in due course.

Good Faith

The honest intention to act without taking an unfair advantage over another party, often mentioned in contracts and negotiations.

Good Faith

The principle of honesty and fairness in dealings, implying a sincere intention without deception.