Chapter 5 - 4. Elastic, inelastic, and unit-elastic demand

The following graph shows the demand for a good. (? Z 140 PRICE (Dollars per unit) V 90 X 70 W 20 Demand QUANTITY (Units) For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic.For each of the regions listed in the following table, use the midpoint method to identify if the demand For this good is elastic, (approximately) unit elastic, or inelastic. Region Elastic Inelastic Unit Elastic Between W and X Between \"I\" and Z O Between X and 'I' True or False: The slope of the demand curve is equal to the value of the price elasticity of demand. '3' Tru e '0 False