A Linear Demand Curve Diagram is a diagram that shows how an object or person is shown from youngest to oldest or tallest to shortest
Example of a Linear Demand Curve
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
Is negatively sloped linear curve
on the linear demand curve, demand is elastic at price above the point of unitary elasticity so a price increase will decrease the total revenue.
Example of a Linear Demand Curve
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
Is negatively sloped linear curve
on the linear demand curve, demand is elastic at price above the point of unitary elasticity so a price increase will decrease the total revenue.
elastic
Unit elastic
Convex function on an open set has no more than one minimum. In demand it shows the elasticity is linear after some point and non linear on other points.
I have never heard that the demand curve must be concave. In fact, it is most often modeled as either linear or convex. Common convex specifications include log-linear and constant-elasticity demand functions. A number of empirical papers attempt to estimate the shape of the demand curve for specific products but I am not familiar with anyone concluding that demand is concave generally.
It isolates factors and only looks at one cause and effect at a time. This is why the demand curve is a linear equation (straight line). It wouldn't be possible in real life.
a linear curve does not represent x^2
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.