Asked by
mattie melton
on Nov 25, 2024
Verified
The price-elasticity of demand is always negative because of
A) the law of demand.
B) percentage changes being used in the formula.
C) the midpoint formula.
D) scarcity.
Price-Elasticity Of Demand
An indicator gauging the change in demand for an item in response to price fluctuations.
Law Of Demand
The principle that there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.
- Apprehend the interrelation between the angle of the demand curve and the elasticity of demand.
Verified Answer
SG
Learning Objectives
- Apprehend the interrelation between the angle of the demand curve and the elasticity of demand.