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

Question

Quizplus · Accepted Answer

Slope is defined as the ratio of the change in the dependent variable (y) to the change in the independent variable (x), while elasticity is defined as the ratio of the percentage change in the dependent variable to the percentage change in the independent variable. Therefore, option A correctly states that slope is a ratio of two changes while elasticity is a ratio of two percentage changes.

The Difference Between Slope and Elasticity Is That Slope