Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
Refer to Figure 5.2. At Point
C the price elasticity of demand is -1. Along line segment
AB of the demand curve, the demand is
◦ elastic.
◦ unit elastic.
◦ inelastic.
◦ either elastic or inelastic, depending on whether price increases or decreases.