Which of the following statement(s) is/are incorrect?

Elastic demand curve is shown by letter demand curve
Perfectly inelastic demand curve will be a horizontal straight line
Both A and B
None of the above

The correct answer is: C. Both A and B.

An elastic demand curve is a curve that is relatively flat, meaning that a small change in price will lead to a large change in quantity demanded. A perfectly inelastic demand curve is a curve that is vertical, meaning that quantity demanded will not change at all regardless of the price.

Option A is incorrect because an elastic demand curve is not necessarily shown by a letter “D” demand curve. A letter “D” demand curve can be either elastic or inelastic, depending on the slope of the curve.

Option B is incorrect because a perfectly inelastic demand curve will not be a horizontal straight line. A perfectly inelastic demand curve will be a vertical line.

Therefore, both options A and B are incorrect.

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