Consider the following statements when answering this question. I. If

Consider the following statements when answering this question. I. If no consumer has a kinked demand curve for CDs, then the market demand curve for CDs cannot be kinked either. II.

If at a price of $10, every consumer has inelastic demand, then at that price the market demand for CDs will be inelastic too. A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.

ANSWER

D