A demand curve along which total spending is the same at every price is

a rectangular hyperbola, with eₚ = 1 throughoutCorrect answerYour answera straight line with eₚ = 1 throughoutCorrect answerYour answera vertical lineCorrect answerYour answera horizontal lineCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Constant P × Q is the definition of a rectangular hyperbola, and it means unitary elasticity everywhere.
A straight line has eₚ = 1 only at its midpoint.

Concept: Unitary elastic curve
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsDegrees of elasticity

Practise this chapter →

Ten questions from Price Elasticity of Demand, at your own pace.

Practise this chapter →

Ten questions from Price Elasticity of Demand, at your own pace.

Practise this chapter All 62 questions in Price Elasticity of Demand Revise the notes for Price Elasticity of Demand

A demand curve along which total spending is the same at every price is

Explanation