Consider two straight line demand curves NM and RS in the given figure.
Economics mcq question image
Select the correct statement from amongst the following.

Consider two straight line demand curves NM and RS in the given figure.
Economics mcq question image
Select the correct statement from amongst the following. Correct Answer Price elasticity of demand will be equal to 1 at point A and less than 1 at point B

Related Questions

Each of the following question and two statements numbered I and II given below it. You have to decide whether the data give in the statements are sufficient to answer the question. Read both the statements and choose the most appropriate answer. How many person standing between Kamal and Luvkush in a straight line of 15 persons (Note: all are standing in a straight line facing north) I) Shiv stands eleventh from the right end of the line. Luvkush stands exactly at the center of the line. There are as many persons to the right of Kamal as there are to the left of Shiv. II) Ram stands fourth from the left end of the line. Shiv sits to the immediate right of Ram.. Only two person stand between Luvkush and Shiv, who is left of Luvkush. Only two person Stand between Kamal and Shiv.
If a straight line demand curve is tangent to a curvilinear demand curve, the elasticity of the two demand curves at the points of tangency is