The Absolute Value of the Price Elasticity of Demand at the Midpoint

question 146

Multiple Choice

The absolute value of the price elasticity of demand at the midpoint of a linear demand curve is always

• A)greater than one
• B)less than one
• C)one
• D)zero
• E)infinity

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Definitions:

Market

An area or arena in which commercial dealings are conducted.

Alternatives

Other options or choices available in a given situation, often considered when the primary option is not viable.

Substitute

An alternative product or service that a consumer can choose over another, often influencing competitiveness and market dynamics.

Threat

Any circumstance or event with the potential to cause harm to a system, organization, individual, or property.