Question

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.

Answer 1

Answer: C. measures changes in quantity demanded more accurately than elasticity.

Explanation: The demand slope measure a change in quantity demand to a corresponding change in price in a demand curve.

While elasticity of demand is the degree of responsiveness to change in price to a corresponding change in quantity demanded while other factors remain constant.

Answer 2

Answer:

c. measures changes in quantity demanded more accurately than elasticity.

Explanation:

Base on the scenario been described in the question, slope measures changes in quantity demanded very accurately compared to elasticity. The main for this reason is that m, slope and elasticity are not the same concepts. Slope evaluates the

flatness or steepness of a line in terms of the evaluating units for price and quantity, while elasticity evaluates the relative response of quantity to changes in price.