Which of the Following Statements About the Price Elasticity of Demand

question 68

Multiple Choice

Which of the following statements about the price elasticity of demand is true?

• A)Slope and elasticity measure the same things.
• B)Price elasticity of demand varies depending on how price and quantity are measured.
• C)It is important to know whether the price elasticity of demand is a positive or negative number.
• D)The slope of a demand curve does not tell us the price elasticity of demand.
• E)Price elasticity is the same everywhere along a demand curve of any shape.

---

Definitions:

Equally Attractive

Describes a scenario in which two or more entities are perceived to have the same level of attractiveness by an observer.

Mere Exposure Effect

A psychological occurrence in which people tend to develop a preference for things merely because they are familiar with them.

Novel Stimuli

New or unfamiliar stimuli that have not been encountered before, often drawing attention and eliciting responses from individuals.

Mere Exposure Effect

This phenomenon describes how people tend to develop a preference for things simply because they are familiar with them.