The price-elastic portion of the linear demand curve lies:
A) in the high price range.
B) anywhere to the left of current market prices.
C) below the point where total revenue is maximised.
D) at the intersection with the supply curve.

Question

Quizplus · Accepted Answer

The price-elastic portion of a linear demand curve is where a small change in price leads to a relatively larger change in quantity demanded, which typically occurs in the high price range.

The Price-Elastic Portion of the Linear Demand Curve Lies