Question: A relatively flat demand curve indicates that the demand for a product is very sensitive to a change in price.

Answer: true

Question: A steeply-sloping demand curve shows

Answer: that the change in quantity demanded is not very sensitive to a change in price.

Question: The slope of a linear function depends on the units of measurement.

Answer: true

Question: Consider the equation of linear function y = −4 + 7x. If it were graphed, the slope would be

Answer: 7.

Question: The slope of the demand curve is measured by

Answer: the change in price divided by the change in the quantity demanded.