Unit elastic
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
elastic
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 graphically the movement along the demand curve
A change in consumer's tastes leads to a shift in the demand curve. A change in price leads to a movement along the demand curve.
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
elastic
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 graphically the movement along the demand curve
A linear inch is a measurement of distance, usually along a straight line.
Linear is "in a line" so linear measurements are length.
linear
A change in consumer's tastes leads to a shift in the demand curve. A change in price leads to a movement along the demand curve.
A change in consumer's tastes leads to a shift in the demand curve. A change in price leads to a movement along the demand curve.
Linear means in a line. Therefore, one linear foot is just 12 inches measured along a straight line.
Distinguish between the movement along the demand curve and shift in demand curve with the assistance of suitable graphs and explanations?
utility is not constant along the demand curve