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You are provided two demand curves, both with same units of measurement on both axes. What can you comment about the price elasticity of demand
You are provided two demand curves, both with same units of measurement on both axes. What can you comment about the price elasticity of demand for a given price change for both curves? a) The curve with the steeper slope has a higher absolute value for elasticity b) The curve with the flatter slope has a higher absolute value for elasticity c) Difference in the value of slopes across these curves will not impact elasticity d) The steeper the curve, the lower the absolute value of elasticity
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