Figure: Elasticity and Quantity Demanded Refer to the Figure

question 54

Multiple Choice

Figure: Elasticity and Quantity Demanded Refer to the figure. An increase in price from $40 to $50 would cause the change in quantity demanded for D₁ to be:

• A) greater than the change in quantity demanded for D₂ so D₁ is more elastic than D₂.
• B) greater than the change in quantity demanded for D₂ so D₂ is more elastic than D₁.
• C) less than the change in quantity demanded for D₂ so D₁ is more inelastic than D₂.
• D) less than the change in quantity demanded for D₂ so D₂ is more inelastic than D₁.

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