Which of the Following Is True with Respect to the Price

Multiple Choice

Which of the following is true with respect to the price elasticity of demand?

A) The coefficient of price elasticity of demand will change with changes in the units of measurement (for instance,going from pounds to ounces) .
B) Elasticity of demand will be equal to the slope of the demand curve.
C) Elasticity measures the sensitivity of total expenditure to a change in price.
D) Elasticity will tend to be greater for a relatively expensive product than for a cheaper one.
E) A coefficient of 1 means that the percentage change in total expenditure is equivalent to the percentage change in price.