The Price Elasticity of Demand Equals 1

question 54

Multiple Choice

The price elasticity of demand equals 1:

• A)whenever the slope of a straight-line demand curve is greater than 1 in absolute value.
• B)at the midpoint of a straight-line demand curve.
• C)whenever the slope of a straight-line demand curve is less than 1 in absolute value.
• D)whenever the slope of a straight-line demand curve equals zero.

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The effect or influence of one thing on another, which can be positive, negative, or neutral.

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