Multiple Choice
Which of the following statements about straight-line demand curves is true?
A) The price elasticity of demand becomes larger in absolute value as price falls.
B) The price elasticity of demand becomes smaller in absolute value as price falls.
C) The price elasticity of demand is constant along the curve.
D) The price elasticity of demand and the slope of the demand curve are the same.
E) Demand is price elastic everywhere along the curve.
Correct Answer:
Verified
Correct Answer:
Verified
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