price elasticity of demand and slope of demand curve are the two same terms? explain
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The elasticity of demand is the same as the slope of the demand curve. ... Elasticity of demand is the percentage change in quantity demanded for a given percentage change in the price of the product. The slope of the demand curve is the change in price for a given change in quantity demanded, measured in units of output.
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The elasticity of demand is the same as the slope of the demand curve.
Elasticity of demand is the percentage change in quantity demanded for a given percentage change in the price of the product.
The slope of the demand curve is the change in the price for a given change in quantity demanded, measured in units of output.
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