which of the following statements about a downward sloping straight line demand curve is correct? demand is…
which of the following statements about a downward sloping straight line demand curve is correct? demand is completely inelastic. demand is infinitely elastic. demand becomes more elastic as price declines. demand becomes more inelastic as price declines.
Answer
Brief Explanations:
On a downward - sloping straight - line demand curve, as the price declines, we move from the upper part of the curve (where demand is elastic) to the lower part (where demand is inelastic). So, demand becomes more inelastic as price declines. A completely inelastic demand is a vertical line, and an infinitely elastic demand is a horizontal line.
Answer:
Demand becomes more inelastic as price declines.