The slope of a demand curve is not used to measure the price elasticity of demand because
A) the slope of a linear demand curve is not constant.
B) the measurement of slope is sensitive to the units chosen for price and quantity.
C) the slope of a line cannot have a negative value.
D) the slope of the demand curve does not tell us how much quantity changes as price changes.
B
You might also like to view...
A stable rule of law
A) invariably turns losses into profits. B) allows people to cooperate more effectively with one another. C) converts price searchers into price takers. D) renders the law of comparative advantage ineffective.
Marginal revenue
A) cannot be used to determine the profit-maximizing rate of production. B) is the change in total revenues resulting from a change in output. C) is a change in revenue that is immeasurable and non-quantifiable. D) cannot be effectively utilized when analyzing the perfect competitor.
The birth rate in most LDCs is _____ than in most industrial countries.
Fill in the blank(s) with the appropriate word(s).
Which of the following defines monopolization?
A. the Federal Reserve B. Federal Trade Commission Act C. U.S. Supreme Court D. the Securities and Exchange Commission