Multiple Choice
The price elasticity of demand equals 1:
A) whenever the slope of a straight-line demand curve is greater than 1 in absolute value.
B) at the midpoint of a straight-line demand curve.
C) whenever the slope of a straight-line demand curve is less than 1 in absolute value.
D) whenever the slope of a straight-line demand curve equals zero.
Correct Answer:
Verified
Correct Answer:
Verified
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