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MrGrimey MrGrimey
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6 years ago
Because demand curves slope downward according to the Law of Demand, the price elasticity of demand is a negative number.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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wrote...
6 years ago
True. The price elasticity of demand measures the change in quantity demanded when a price change occurs. If price increases, the change in the quantity demanded will be negative.
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