The range to the left of the midpoint on a linear demand curve is
A) elastic.
B) infinite.
C) one.
D) inelastic.

Question

Quizplus · Accepted Answer

The range to the left of the midpoint on a linear demand curve is the range of prices where the price elasticity of demand is greater than 1, meaning that a small change in price leads to a relatively larger change in quantity demanded. This range is referred to as elastic because the demand is highly responsive to changes in price.

The Range to the Left of the Midpoint on a Linear