Which of the following statements about price elasticity of demand is false?
a) The value of price elasticity of demand is the reciprocal of the value of the demand curve's slope
b) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic
c) The value of price elasticity of demand along a downward sloping demand curve is always negative
d) A linear downward sloping demand curve has a varying price elasticity coefficient