The price elasticity of demand is the same as the slope of the demand curve.

Question

Quizplus · Accepted Answer

The price elasticity of demand is not the same as the slope of the demand curve. While both concepts relate to the relationship between price and quantity demanded, the slope of the demand curve only measures the change in quantity demanded resulting from a unit change in price, while price elasticity of demand shows the percentage change in quantity demanded resulting from a percentage change in price. Additionally, the slope of the demand curve can be different at different points along the curve, while price elasticity is constant over a given range of prices.

The Price Elasticity of Demand Is the Same as the Slope