The slope of a linear demand curve is - 2 dollars per unit. Suppose the price...

Question

Question

The slope of a linear demand curve is - 2 dollars per unit.

Suppose the price is $300 and quantity is 100 units. The absolute value of the price elasticity of demand will be ______

Suppose the price is $100 and the quantity changes to 200 units. The absolute value of the price elasticity of demand will be ______

As the price falls, causing downward movement along the demand curve described above, the price elasticity of demand will be ______

Answer 1

Answer #1

Answer 2

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