A linear, downward-sloping demand curve is

Question

BlackTom AI · Accepted Answer

Question restatement: The prompt asks about the properties of a linear, downward-sloping demand curve and provides four answer choices to identify the correct description.
Option 1: 'inelastic.' A linear downward-sloping demand line does not stay consistently inelastic across all price ranges. At high prices, elasticity can be elastic, and at lower prices it can become inelastic, so labeling the entire curve as inelastic is inaccurate.
Option 2: 'unit elastic.' A straight-line downward-sloping demand curve is not uniformly unit elastic. Only at a specific point along the curve is elasticity equal to 1; the rest of the line has elasticity either greater or less than 1, depending on the price-quantity combination.
Option 3: 'elastic.' Similar to option 1, this statement is too absolute. While portions of a linear downward-sloping demand curve may be elastic (especially at higher prices), other portions are inelastic (especially at lower prices), so we cannot say the entire curve is elastic.
Option 4: 'inelastic at some points and elastic at others.' This option captures the key nuance of a linear, downward-sloping demand curve: the price elasticity of demand varies along the curve, being elastic in some regions and inelastic in others, with a single point where it is unit elastic. This aligns with the standard understanding of elasticity varying along a straight-line demand.
In summary, the correct description acknowledges that elasticity is not uniform along the curve, recognizing both elastic and inelastic regions as well as the unit-elastic point. The other options incorrectly generalize the curve's elasticity characteristics across all prices and quantities.

A linear, downward-sloping demand curve is单项选择题

类似问题

When there are many substitute products available, the price elasticity of demand for a given product will likely be Blank ______.

When a 10 percent decrease in price results in a less than 10 percent increase in quantity sold, the demand for the product or service is described as Blank ______.

If the absolute value of the price elasticity of demand for good X is 0.5, then a 10% decrease in the price of good X will result in which of the following?

The own-price elasticity of Starbucks coffee is -0.8, meaning __.

There are many different factors that impact the price elasticity of demand. More specifically, the proportion of budget and the income effect refer to how price as a portion of income influences price elasticity. Which of the following is true

Rock melon has a price of elasticity of demand of (-)2.95, it can be concluded that the demand for rock melons is ___________.

The discovery of a new hybrid wheat would tend to increase the supply of wheat. Under what conditions would wheat farmers realise an increase in revenue?

Shoes are priced at $75 per pair. A vendor sells 20 pairs per day. The vendor explores selling at $100 per pair. At that price, the vendor sells 15 pairs over the day. What is the elasticity of shoe sales to price.

更多留学生实用工具

智能学习助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单