48 Over which price range is the demand inelastic? 10) A)$8-$6 B)$18-$16 )$20-$1

Question

48 Over which price range is the demand inelastic? 10) A)$8-$6 B)$18-$16 )$20-$18 D)$14-$12 A elastic but does not change at various points on the curve. price elasticity of demand of a straight-line demand curve is 11) at all points on the curve. C) inelastic but does not change at various paints on the curve. D) more elastic in high-price ranges and less elastic in low-price ranges. 12yuse the following graph to answer the question $6.30 $5.70 D2 0 188 212 384 416 Between prices of $5.70 and $6.30 12) A) Di and D2 have identical elasticities 8) D2 is noncomparable to D1 C) D1 is more elastic than b2. 9) D2 is more elastic than Dy Total revenue falls as the price of a good is raised, if the demand for the good is 13) elastic inelastic. D) perfectly elastic B) unitary elastic 14) Use the following graph of total revenues to answer the question below.

Explanation / Answer

11. The price elasticity of demand of a straight-line demand curve is elastic in high-price ranges and inelastic on low-price ranges.

Ans: D More elastic in high-price ranges and less elastic in low-price ranges.

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