-In the Above Figure, Over the Price Range P5P6, Demand

question 165

Multiple Choice

-In the above figure, over the price range P5P6, demand is

• A) unit elastic.
• B) elastic.
• C) perfectly inelastic.
• D) inelastic.

---

Definitions:

Merchant

An individual or company engaged in the buying and selling of goods or services in commerce, especially one dealing in a specific commodity or operating in a particular sector.

Special Knowledge

Extraordinary or advanced understanding and information in a particular field or subject, beyond that of the average person.

Unconscionable Clause

A term in a contract deemed so unjust that it is unenforceable under the law.

Voidable Title

A legal concept indicating that a title or ownership can be rendered invalid by a court if certain conditions are met.