Use the following figure to answer the question :
-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

Use the following figure to answer the question : 
-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.

Quizplus · Accepted Answer

The demand curve typically becomes more elastic as you move up and to the left (higher prices, lower quantities) and more inelastic as you move down and to the right (lower prices, higher quantities). Point T being very inelastic and point Q being very elastic aligns with this understanding.

Use the Following Figure to Answer the Question