Along a Linear (Straight-Line)downward-Sloping Demand Curve,demand Is Unit Elastic at

question 39

Multiple Choice

Along a linear (straight-line) downward-sloping demand curve,demand is unit elastic at

• A) the highest price.
• B) the lowest price.
• C) the midpoint.
• D) all points on the linear demand curve.
• E) None of the above because linear demand curves are never unit elastic.

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Definitions:

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Singular Proposition

A statement or assertion that applies to a specific individual or distinct entity, rather than to members of a class as a whole.

Categorical Syllogism

A deductive argument containing two categorical premises, a categorical conclusion, and three terms—major, minor, and middle—with each term occurring in two propositions.

Categorical Syllogism

A form of deductive argument that consists of three categorical propositions (a major premise, a minor premise, and a conclusion) that relates three different terms.