# Which of the following statements about price elasticity of...

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Homework 3 chapter 6 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following statements about price elasticity of demand is false ? A) The value of the price elasticity of demand is the reciprocal of the value of the demand curve's slope. B) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic. C) The value of the price elasticity of demand along a downward-sloping demand curve is always negative. D) A linear downward-sloping demand curve has a varying price elasticity coefficient.
2) If the demand for a life-saving drug was perfectly inelastic and the price doubled, the quantity demanded would