The Figure Given Below Shows the Demand Curves of Two

question 111

Multiple Choice

The figure given below shows the demand curves of two classes of buyers for tickets to a football match. Figure 24.4 D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
In Figure 24.4, the demand curve D₂:

• A)has a price elasticity of demand greater than 1.
• B)is relatively less price elastic than D₁.
• C)is the inverse of the demand curve D₁.
• D)has a price elasticity of demand less than 1.
• E)represents the demand of the group that is more responsive to price changes.

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Definitions:

Complementary

Complementary refers to things that enhance or emphasize the qualities of each other when combined.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms.

Cell

A basic unit of life that is the building block of all organisms.

DNA

The molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.