The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-If a price increase from $20 to $40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.
A)inelastic
B)elastic
C)perfectly inelastic
D)perfectly elastic
E)unit-elastic

Question

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1
 
-If a price increase from $20 to $40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.
A)inelastic 
B)elastic 
C)perfectly inelastic 
D)perfectly elastic 
E)unit-elastic

Quizplus · Accepted Answer

The Answer of The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1
 
-If a price increase from $20 to $40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.
A)inelastic 
B)elastic 
C)perfectly inelastic 
D)perfectly elastic 
E)unit-elastic

The Figure Given Below Shows the Demand Curves for Five