{"id":44464,"date":"2024-04-15T21:44:06","date_gmt":"2024-04-15T21:44:06","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44464"},"modified":"2024-04-15T21:44:06","modified_gmt":"2024-04-15T21:44:06","slug":"if-two-demand-curves-intersect-then-at-the-point-of-intersection","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/if-two-demand-curves-intersect-then-at-the-point-of-intersection\/","title":{"rendered":"If two demand curves intersect, then at the point of intersection"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;they are equally elastic&#8221; option2=&#8221;the steeper curve is more elastic&#8221; option3=&#8221;the flatter curve is more elastic&#8221; option4=&#8221;their elasticity cannot be compared&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: D. their elasticity cannot be compared.<\/p>\n<p>The elasticity of demand is a measure of how responsive consumers are to changes in price. A demand curve that is more elastic means that consumers are more responsive to changes in price, and a demand curve that is less elastic means that consumers are less responsive to changes in price.<\/p>\n<p>If two demand curves intersect, then the two curves must have different elasticities at the point of intersection. This is because the two curves must have different slopes, and the slope of a demand curve is a measure of its elasticity.<\/p>\n<p>Therefore, the elasticity of demand cannot be compared at the point of intersection of two demand curves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;they are equally elastic&#8221; option2=&#8221;the steeper curve is more elastic&#8221; option3=&#8221;the flatter curve is more elastic&#8221; option4=&#8221;their elasticity cannot be compared&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-44464","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If two demand curves intersect, then at the point of intersection<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/if-two-demand-curves-intersect-then-at-the-point-of-intersection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If two demand curves intersect, then at the point of intersection\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;they are equally elastic&#8221; 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