Multiple Choice
Which of the following statements correctly differentiates between the slope of a demand curve and the price elasticity of demand along a linear demand curve?
A) The price elasticity of demand for a good is the same at different points on the demand curve, whereas the slope of the demand curve varies depending on the point where it is measured.
B) The price elasticity of demand for a good varies along the demand curve, whereas the slope of the demand curve remains the same at different points on the curve.
C) The price elasticity of demand is a unit-free measure, whereas the slope of a demand curve is measured in dollars.
D) The price elasticity of demand is measured in dollars, whereas the slope of a demand curve is a unit-free measure.
Correct Answer:
Verified
Correct Answer:
Verified
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