In Figure 5-2, compare demand curve D between points F and G to demand curve D' between points J and K. Which of the following statements is correct?





Figure 5-2



a.

Both demand curves have the same slope, but D' is more elastic in the $2 to $3 range.

b.

Both demand curves have the same slope, but D' is less elastic in the $2 to $3 range.

c.

Both demand curves have the same price elasticity of demand, but D' has a larger slope.

d.

Both demand curves have the same price elasticity of demand, but D' has a smaller slope.

e.

Both demand curves have the same slope and the same value for the price elasticity of demand.


b

Economics

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