The difference between slope and elasticity is that
A) slope is a ratio of two changes,and elasticity is a ratio of two percentage changes.
B) slope is a ratio of two percentage changes,and elasticity is a ratio of two changes.
C) slope measures changes in quantity demanded more accurately than elasticity.
D) none of the above;there is no difference between slope and elasticity.

Question

Quizplus · Accepted Answer

Slope is a ratio of two changes, usually represented as rise over run or change in y over change in x. On the other hand, elasticity is a ratio of two percentage changes, typically represented as the percentage change in quantity demanded divided by the percentage change in price. Therefore, there is a clear distinction between slope and elasticity. Option B is incorrect because slope is not a ratio of two percentage changes. Option C is also incorrect because both slope and elasticity can accurately measure changes in quantity demanded, but they do so in different ways. Option D is incorrect because there is indeed a difference between slope and elasticity.

The Difference Between Slope and Elasticity Is That