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22 Aug 2019
Which of the following statements is true?
If demand is linear, slope will vary across different points on the demand curve whereas the elasticity will be the same at all points on the curve.
Elasticity does not depend on units whereas slope does.
The data needed to know the demand curve's entire slope are more likely to be available than the data needed to calculate elasticity at a given price.
Price elasticity of demand and slope are two names for the same concept.
Which of the following statements is true?
If demand is linear, slope will vary across different points on the demand curve whereas the elasticity will be the same at all points on the curve.
Elasticity does not depend on units whereas slope does.
The data needed to know the demand curve's entire slope are more likely to be available than the data needed to calculate elasticity at a given price.
Price elasticity of demand and slope are two names for the same concept.
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2 Jun 2021