question archive A straight-line demand curve with negative slope intersects the horizontal axis at 150 tons per week
A straight-line demand curve with negative slope intersects the horizontal axis at 150 tons per week
Subject:EconomicsPrice: Bought3
A straight-line demand curve with negative slope intersects the horizontal axis at 150 tons per week. At the midpoint on the demand curve (corresponding to 100 tons per week) the price elasticity of demand is
a.0.5.
b.1.0.
c.0.
d.greater than 1.0.
