Which of the following statements correctly differentiates between the slope of the demand curve and price elasticity of demand along a linear demand curve?
A) The price elasticity of demand for a good is the same at different points on the demand curve, whereas the slope of the demand curve varies depending on the point where it is measured.
B) The price elasticity of demand for a good varies along the demand curve, whereas the slope of the demand curve remains the same at different points on the curve.
C) The price elasticity of demand is a ratio, whereas the slope of a demand curve is a product.
D) The price elasticity of demand is a product, whereas the slope of a demand curve is a ratio.
B
You might also like to view...
The current account is the record of
A) changes in the government's holdings of foreign currency. B) the nation's exports but not its imports. C) payments for imports, receipts for exports, net interest, and net transfers. D) a nation's international trading, borrowing, and lending. E) foreign investment in the nation minus the nation's investment abroad.
Economies can be organizations such as
A) households. B) individual states of the United States. C) entire countries. D) households, states, and countries.
If the price falls below minimum SRAVC, the quantity supplied by the firm will be
a. the quantity at minimum MC. b. zero. c. the quantity at the point where MC intersects AC. d. the quantity at minimum AC.
Between 1960 and 2010, the labor force participation rate for women
A) increased until about 1996. B) decreased in most years. C) did not change. D) first rose sharply and then, after 1996, fell equally sharply. E) did not change until 1992, after which it generally increased.