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The figure shows two different demand curves. Based on the graph which statement is TRUE? P P B ОООО e Elasticity of demand equals the slope of the curve, so demand curve A is more elastic. Elasticity

The figure shows two different demand curves. Based on the graph which statement is TRUE? P P B ОООО e Elasticity of demand equals the slope of the curve, so demand curve A is more elastic. Elasticity of demand equals the slope of the curve, so demand curve B is more elastic A price - Pand quantity = 0.demand curve Ais more elastic than demand curve B. We cannot infer anything about elasticity from this diagram because slope does not equal elasticity,

Apr 12 2021 View more View Less

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