Multiple Choice
Which of the following is true regarding the price elasticity of demand?
A) Demand is generally more elastic in the long run than in the short run.
B) Along a single demand curve, demand elasticity decreases as you move down the curve (to lower prices) .
C) A demand curve that is flatter (has a less steep slope) is relatively more elastic than a demand curve that has a steeper slope.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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