Refer to the diagram. Between prices of $5.70 and $6.30,
A)D₁ is more elastic than D₂.
B)D₂ is an inferior good and D₁ is a normal good.
C)D₁ and D₂ have identical elasticities.
D)D₂ is more elastic than D₁.

Question

Refer to the diagram. Between prices of $5.70 and $6.30,
A)D₁ is more elastic than D₂. 
B)D₂ is an inferior good and D₁ is a normal good. 
C)D₁ and D₂ have identical elasticities. 
D)D₂ is more elastic than D₁.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram. Between prices of $5.70 and $6.30,
A)D₁ is more elastic than D₂. 
B)D₂ is an inferior good and D₁ is a normal good. 
C)D₁ and D₂ have identical elasticities. 
D)D₂ is more elastic than D₁.

Refer to the Diagram