Figure 7-5
-Refer to Figure 7-5.At the midpoint of the demand curve,in absolute value,
A)the price elasticity coefficient is at a maximum.
B)the price elasticity coefficient is at a minimum.
C)the price elasticity coefficient is zero.
D)the price elasticity coefficient is one.

Question

Figure 7-5 
-Refer to Figure 7-5.At the midpoint of the demand curve,in absolute value,
A)the price elasticity coefficient is at a maximum. 
B)the price elasticity coefficient is at a minimum. 
C)the price elasticity coefficient is zero. 
D)the price elasticity coefficient is one.

Quizplus · Accepted Answer

At the midpoint of the demand curve, the price elasticity of demand is unitary, meaning the price elasticity coefficient is equal to one.

Figure 7-5 -Refer to Figure 7-5.At the Midpoint of the Demand Curve,in