Explain why the Elasticity value gets smaller as you move down the
| a. |
As we move down the demand curve, equal changes in quantity represent smaller and smaller percentage changes, whereas equal changes in |
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| b. |
As we move down the demand curve, equal changes in quantity represent larger and larger percentage changes, whereas equal changes in price represent larger and larger percentage changes, and the absolute value of the elasticity measure declines. |
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| c. |
As we move down the demand curve, equal changes in quantity represent smaller and smaller percentage changes, whereas equal changes in price represent larger and larger percentage changes, and the absolute value of the elasticity measure declines. |
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| d. |
As we move up the demand curve, equal changes in quantity represent smaller and smaller percentage changes, whereas equal changes in price represent larger and larger percentage changes, and the absolute value of the elasticity measure inclines. |
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| e. |
As we move up the demand curve, equal changes in quantity represent smaller and smaller percentage changes, whereas equal changes in price represent larger and larger percentage changes, and the absolute value of the elasticity measure decline. |
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