Multiple Choice
If the price elasticity of demand is 1.5,regardless of which two points on the demand curve are used to compute the elasticity,then demand is
A) perfectly inelastic,and the demand curve is vertical.
B) elastic,and the demand curve is a straight,downward-sloping line.
C) perfectly elastic,and the demand curve is horizontal.
D) elastic,and the demand curve is something other than a straight,downward-sloping line.
Correct Answer:
Verified
Correct Answer:
Verified
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