Which statement is most likely true about the demand curve in the graph?
A)Point R is unit elastic,while point S is very inelastic.
B)Point T is very inelastic,while point Q is very elastic.
C)Point Q is very inelastic,while point T is very elastic.
D)Point Q is slightly elastic,while point S is very inelastic.

Question

Quizplus · Accepted Answer

Point T is likely to be very inelastic because it is typically at the lower end of the demand curve where quantity demanded does not change much with price changes. Point Q is likely to be very elastic because it is typically at the upper end of the demand curve where quantity demanded changes significantly with price changes.

Which Statement Is Most Likely True About the Demand Curve