Question: lastic 7. Which statement is true about the graph in Figure 1? (LO1) a) Demand is perfectly elastic. b) Demand is perfectly inelastic. C Demand

lastic 7. Which statement is true about the graph in Figure 1? (LO1) 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. X Price Y Quantity Figure 1

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