Q71
In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be
A.
0
B.
1
AnswerC.
1.5
D.
2
Answer: Option B
Solution
Answer: Option B
Solution:
In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be 1.