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Author Question: Which of the following statements about price elasticity of demand is true? (Read 120 times)

camac77

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on: Oct 12, 2022

Question 1

With a downward-sloping straight-line demand curve, price elasticity of demand is
◦ constant everywhere on it.
◦ rising continuously with price increases.
◦ decreasing continuously with price increases.
◦ increasing to the midpoint of the curve and then decreasing.
◦ indeterminate.

Question 2

Which of the following statements about price elasticity of demand is true?
◦ It is higher for an entire group of related products than it is for a particular product in that group.
◦ It is a positive number because price and quantity demanded move in the same direction.
◦ It usually increases over time.
◦ It is very small when good substitutes are readily available for the commodity.
◦ It is greater than one if the percentage increase in the commodity's price is greater than the percentage decline in quantity demanded.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by camac77 on Oct 12, 2022

iamkarenvv

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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camac77

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

smrtceo

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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