Refer to the graph shown. The segment of the demand curve between the initial equilibrium price of $5.00 and the new equilibrium price of $3.00 is:
A) elastic.
B) inelastic.
C) perfectly elastic.
D) perfectly inelastic.

Question

Refer to the graph shown. The segment of the demand curve between the initial equilibrium price of $5.00 and the new equilibrium price of $3.00 is: 
A) elastic. 
B) inelastic. 
C) perfectly elastic. 
D) perfectly inelastic.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. The segment of the demand curve between the initial equilibrium price of $5.00 and the new equilibrium price of $3.00 is: 
A) elastic. 
B) inelastic. 
C) perfectly elastic. 
D) perfectly inelastic.

Refer to the Graph Shown