Answer:
The correct answer is letter "C": The elasticity of demand varies along most demand curves.
Step-by-step explanation:
Elasticity is the response of variables to a variation in another variable. The extent to which the supply or demand for a good or service changes with the price of the goods or consumer income can be defined thanks to elasticity.
Elasticity is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal or greater than one (1), the good or service is elastic. If the result is lower than one, it means the good or service is inelastic.
Plotted in a graph, elasticity represents a straight line from the "X" quantity axis departing from zero to the "Y" price axis headed to the infinite crossing in its way different demand curves.