Which of the following is true regarding the price elasticity of demand?

Select one:

a.Demand is generally more elastic in the long run than in the short run.

b.Along a single demand curve, demand elasticity decreases as you move down the curve (to lower prices).

c.A demand curve that is flatter (has a less steep slope) is relatively more elastic than a demand curve that has a steeper slope.

d.All of the above are true.