Multiple Choice
If the slope of a demand curve is equal to -0.1, then________.
A) demand is inelastic.
B) we do not know whether the demand is elastic or inelastic.
C) the demand is elastic at low prices and inelastic at high prices.
D) as price increases by 10 per cent, quantity demanded decreases by 1 per cent.
Correct Answer:
Verified
Correct Answer:
Verified
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