Yes, the demand curve is elastic in this region.
YES
That would depend on what point of the curve you mean.
True
True
true because it is still supply and demand downward sloping
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.
YES
That would depend on what point of the curve you mean.
True
True
true because it is still supply and demand downward sloping
A)
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?
true
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases