Elasticity differs from the slope as a measure of responsivenessto changes in prices because: elasticity changes depending

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Elasticity differs from the slope as a measure of responsivenessto changes in prices because:

elasticity changes depending on the currency prices are measuredin, but this does not affect the slope.

percentage changes do not depend on the units of measurement,whereas the slope does.

elasticity is only useful for describing demand, but the slopeis useful for describing demand and supply.

the slope is always negative, while elasticity is not.

Related Book For answer-question

Discrete and Combinatorial Mathematics An Applied Introduction

ISBN: 978-0201726343

5th edition

Authors: Ralph P. Grimaldi

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Posted Date: Dec 13, 2022 07:20 AM

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Elasticity differs from the slope as a measure of responsivenessto changes in prices because: elasticity changes depending

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Answer Option 2 percentage changes do not depend on the units of measurement whe... View the full answer

Discrete and Combinatorial Mathematics An Applied Introduction

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