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For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
because demand decreases as price increases :)
Price elasticity of demand is equal to the instantaneous slope of the demand curve, or the slope of the tangent line at any point on the demand curve. So if the demand curve is represented by a straight downward sloping line, then yes, price elasticity of demand is equal to the slope of the demand curve. Otherwise, the slope at any point on the curve is changing, and you can find the it by taking the derivative of the demand curve function, which will find the Price elasticity of demand at any single point. Thus, the Price Elasticity of Demand changes at different points on the demand curve.
Downward
Is always negative. (should be in all caps for emphasis)
Factors that affect the motion of an object include the object's mass, the force acting on it, the direction of the force, and any external factors like friction or air resistance. The object's initial velocity and the surface it's moving on can also impact its motion.
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
because demand decreases as price increases :)
Price elasticity of demand is equal to the instantaneous slope of the demand curve, or the slope of the tangent line at any point on the demand curve. So if the demand curve is represented by a straight downward sloping line, then yes, price elasticity of demand is equal to the slope of the demand curve. Otherwise, the slope at any point on the curve is changing, and you can find the it by taking the derivative of the demand curve function, which will find the Price elasticity of demand at any single point. Thus, the Price Elasticity of Demand changes at different points on the demand curve.
Downward
Is always negative. (should be in all caps for emphasis)
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
The demand curve will have a downward slope indicating ________ . A. the expansion of demand with a fall in price B. contraction of demand with a rise in price C. the expansion of demand with a fall in price and contraction of demand with a rise in price D. rise in price causes a rise in supply
The principle of diminishing marginal utility explains the slope of the demand curve by letting us be able to see which direction the slope is in, which is always downward.
Price elasticity is a specific type of slope of the demand curve. A perfectly inelastic demand means that the quantity will not change with the price. This line is perfectly vertical. A perfectly elastic demand curve is horizontal and means that at any given quantity, there is only one price. Also, a slope gets steeper, demand becomes more inelastic.
Increase in expansion affect the demand because more supply/expansion with constant demand will lead to excess in expansion which affect the demand.
As war is an unexpected factor that impedes the economic growth of a country, it leaves the aggregate demand with no option but a slope negatively downwards in dicating higher price levels.