Question: Which statement is true about the graph in Figure 1? a) Demand is perfectly elastic. b) Demand is perfectly inelastic. c) Demand is more elastic

Which statement is true about the graph in Figure 1?

Price Figure 1 X Quantity

a) Demand is perfectly elastic.

b) Demand is perfectly inelastic.

c) Demand is more elastic at point X than at point Y.

d) Demand is more elastic at point Y than at point X.

Price Figure 1 X Quantity

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