The flatter the demand curve passing through a given point, the less elastic the demand curve at...

Question:

The flatter the demand curve passing through a given point, the less elastic the demand curve at that point.

a. True

b. False

The elasticity of Demand:

The elasticity of demand is the concept that deals with changes in quantity demanded when there is a change in price. If demand is elastic, the quantity demanded changes a great deal with a change in price. If demand is inelastic, the change is smaller.

Answer and Explanation: 1

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The statement, "The flatter the demand curve passing through a given point, the less elastic the demand curve at that point," is False.

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Inelastic Demand: Definition & Examples

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Chapter 3 / Lesson 13
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What is inelastic demand? What is the economic significance of an inelastic demand? Learn about inelastic demand, and its impact on economic decision making.


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