Moving downward along a linear (straight-line) downward-sloping demand curve, the
A. price elasticity of demand does not change.
B. quantity demanded decreases.
C. demand becomes more elastic.
D. demand becomes less elastic.
E. total revenue never changes. Reset Selection
Ans: A) slope is constant.
Economics
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Which of the following is true of marginal revenue?
a. Marginal revenue equals total revenue divided by quantity. b. Marginal revenue is the slope of the supply curve of a firm. c. Marginal revenue is the slope of the total cost curve when profit is maximized. d. Marginal revenue equals the change in total revenue due to an additional unit of output. e. Marginal revenue equals the income earned by selling stocks on the margin.
Economics
If price were $190, there would be a _____ (shortage or surplus) of _____.
Economics