{"id":57960,"date":"2024-04-16T01:11:05","date_gmt":"2024-04-16T01:11:05","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=57960"},"modified":"2024-04-16T01:11:05","modified_gmt":"2024-04-16T01:11:05","slug":"in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/","title":{"rendered":"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;0&#8243; option2=&#8221;1&#8243; option3=&#8221;1.5&#8243; option4=&#8221;2&#8243; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is A. 0.<\/p>\n<p>A straight-line demand curve meeting the two axes is a perfectly inelastic demand curve. This means that the quantity demanded does not change at all in response to a change in price. The price elasticity of demand is a measure of how responsive consumers are to changes in price. A perfectly inelastic demand curve has an elasticity of demand of 0. This means that a change in price will not cause any change in quantity demanded.<\/p>\n<p>Option B is incorrect because a price elasticity of demand of 1 means that the quantity demanded changes in the same proportion as the price. This is not the case for a perfectly inelastic demand curve.<\/p>\n<p>Option C is incorrect because a price elasticity of demand of 1.5 means that the quantity demanded changes in a greater proportion than the price. This is also not the case for a perfectly inelastic demand curve.<\/p>\n<p>Option D is incorrect because a price elasticity of demand of 2 means that the quantity demanded changes in twice the proportion as the price. This is also not the case for a perfectly inelastic demand curve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;0&#8243; option2=&#8221;1&#8243; option3=&#8221;1.5&#8243; option4=&#8221;2&#8243; correct=&#8221;option1&#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-57960","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>In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be<\/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\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;0&#8243; option2=&#8221;1&#8243; option3=&#8221;1.5&#8243; option4=&#8221;2&#8243; correct=&#8221;option1&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T01:11:05+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/","og_locale":"en_US","og_type":"article","og_title":"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be","og_description":"[amp_mcq option1=&#8221;0&#8243; option2=&#8221;1&#8243; option3=&#8221;1.5&#8243; option4=&#8221;2&#8243; correct=&#8221;option1&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T01:11:05+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/","url":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/","name":"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-16T01:11:05+00:00","dateModified":"2024-04-16T01:11:05+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/in-the-case-of-a-straight-line-demand-curve-meeting-the-two-axes-the-price-elasticity-of-demand-at-the-mid-point-of-the-line-would-be\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Economics","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/economics\/"},{"@type":"ListItem","position":4,"name":"In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/57960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=57960"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/57960\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=57960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=57960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=57960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}