Economics · Elasticity of Demand
If AB and CD are two parallel straight-line demand curves, with AB lying closer to the origin than CD, which of the following is correct regarding the price elasticity of demand at points E (on AB) and F (on CD) corresponding to the same price OP?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both (B) and (C) are correct.
- 2Elasticity of demand at point E is less than at point F.
- 3Elasticity of demand at point E is greater than at point F.✓
- 4Elasticity of demand at point E and point F are equal.
Correct answer
Elasticity of demand at point E is greater than at point F.
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