elastic
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
Unit elastic
Example of a Linear Demand Curve
explain graphically the movement along the demand curve
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
Unit elastic
Example of a Linear Demand Curve
explain graphically the movement along the demand curve
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
Distinguish between the movement along the demand curve and shift in demand curve with the assistance of suitable graphs and explanations?
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.
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.
All factors other than price will shift the demand curve. Price moves along the demand curve.