(Figure: Price Elasticity of Demand II) Which of the following statements is TRUE regarding the figure?

I. The price elasticity of demand is
)
II. The demand curve is perfectly inelastic.
III. An increase in price has no effect on quantity demanded.
A) I and III
B) I, II, and III
C) II and III
D) II

Question

(Figure: Price Elasticity of Demand II) Which of the following statements is TRUE regarding the figure?  ​
​
I. The price elasticity of demand is 
)
II. The demand curve is perfectly inelastic.
III. An increase in price has no effect on quantity demanded.
A) I and III 
B) I, II, and III 
C) II and III 
D) II

Quizplus · Accepted Answer

The Answer is C

(Figure: Price Elasticity of Demand II) Which of the Following