The concept of price elasticity of demand measures:
A. the slope of the demand curve.
B. the number of buyers in a market.
C. the extent to which the demand curve shifts as the result of a price decline.
D. the sensitivity of consumer purchases to price changes.
Answer: D
Economics
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If slope = 2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if
a. x decreases by 4, y decreases by 8 b. x = -4, then y = -2 c. y decreases by 4, x decreases by 8 d. x = -4, y = -8 e. x increases by 4, y decreases by 8
Economics