Along any downward sloping straight-line demand curve:
A) both the price elasticity and slope vary.
B) the price elasticity varies, but the slope is constant.
C) the slope varies, but the price elasticity is constant.
D) both the price elasticity and slope are constant.
B
You might also like to view...
If the price of gasoline decreases, what will be the impact in the market for public transportation?
A) The quantity of public transportation demanded increases. B) The quantity of public transportation demanded decreases. C) The demand curve for public transportation shifts to the left. D) The demand curve for public transportation shifts to the right.
If a firm wants to maximize profits it should
A) hire each factor of production up to the point at which the marginal physical product per last dollar spent is equalized. B) hire each factor of production up to the point at which the marginal revenue product per last dollar spent is equalized. C) hire each factor of production up to the point at which the marginal factor cost per last dollar spent is equalized. D) hire the same number of units of all inputs.