The exhibit illustrates two possible demand curves for a product, D 1 and D 2. Which of the following is true regarding these demand curves?
A) Demand curve D 1 represents a demand curve that is relatively more elastic than demand curve D 2.
B) Demand curve D 1 represents a demand curve that is relatively more inelastic than demand curve D 2.
C) Demand curve D 1 represents a demand curve that shows consumer purchases being more responsive to a change in the price of the good than demand curve D 2.
D) Both are examples of unitary elastic demand curves.
Correct Answer:
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