Economics · Elasticity of Demand
On a straight-line downward-sloping demand curve, the point elasticity of demand is equal to one (ed = 1) at which of the following positions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1At the intersection point with the Y-axis
- 2Exactly at the midpoint of the demand curve✓
- 3At any point below the midpoint
- 4At any point above the midpoint
Correct answer
Exactly at the midpoint of the demand curve
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