Which of the following statements is correct?
A) In the case of a linear demand curve, the slope and the price elasticity of demand are equal at each point on the demand curve.
B) The slope of the demand curve is some constant value, but the value of the price elasticity coefficient decreases as we move down the demand curve.
C) The slope of the demand curve is some constant value, but the value of the price elasticity coefficient increases as we move down the demand curve.
D) There is no connection between the slope of the demand curve and the value of the price elasticity coefficient.
Correct Answer:
Verified
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