Question
Which among the following statement is INCORRECT?
Answer: Option C
The percentage change in the quantity demanded divided by the percentage change in price is coefficient of elasticity.
So two linear and parallel demand curves will have same coefficient of elasticity and the changes in price w.r.t changes in quantity demanded will be the same.
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The percentage change in the quantity demanded divided by the percentage change in price is coefficient of elasticity.
So two linear and parallel demand curves will have same coefficient of elasticity and the changes in price w.r.t changes in quantity demanded will be the same.
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