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Which of the following statements is true? 1- if demand is linear, slope will very across different points on the demand curve whereas the elasticity
Which of the following statements is true?
1- if demand is linear, slope will very across different points on the demand curve whereas the elasticity will be the same at all points in the curve.
2- Elasticity does not depend on units whereas slope does
3- The data needed to know the demand curve's entire slope are more likely to be available than the data needed to calculate elasticity at a given price
4- Price elasticity of demand and slope are two names for the same concept
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