(Solved): 4. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good. 28 ...

4. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good. 280 PRICE (Dollars per unit) 100 40k Demand 0 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. Region Elastic Inelastic Unit Elastic Between Y and Z O Between X and Y Between W and X True or False: The value of the price elasticity of demand is not equal to the slope of the demand curve. O True False