A constant price elasticity of demand curve is one whose:
A) slope is the same at every point on the curve.
B) price elasticity of demand is the same at every point on the curve.
C) quantity is the same at every point on the curve.
D) price elasticity of demand and slope are the same at every point on the curve.

Question

Quizplus · Accepted Answer

A constant price elasticity of demand curve is one in which the price elasticity of demand is the same at every point on the curve. This means that the responsiveness of quantity demanded to changes in price remains constant throughout the curve, regardless of the actual quantities or prices involved. The slope of the curve does not have to be constant, as long as the price elasticity of demand remains the same.

A Constant Price Elasticity of Demand Curve Is One Whose