Economics · Elasticity of Demand
Suppose AB and CD are two parallel straight-line demand curves, where CD lies above AB. At a given price OP, what is the correct relationship between the price elasticity of demand at point E on demand curve AB and point F on demand curve CD?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Elasticity of demand depends on the slope only.
- 2Elasticity of demand at E is less than at F.✓
- 3Elasticity of demand at E is greater than at F.
- 4Elasticity of demand at E is equal to that at F.
Correct answer
Elasticity of demand at E is less than at F.
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