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.
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
utility is not constant along the demand curve
Elasticity varies along a straight-line demand curve by being different at different points. At the top of the curve, elasticity is more elastic, meaning small changes in price lead to larger changes in quantity demanded. At the bottom of the curve, elasticity is less elastic, meaning changes in price have less impact on quantity demanded.
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
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
utility is not constant along the demand curve
show how the price elasticity of demand is graphically measured along a liner demand curve?
Elasticity varies along a straight-line demand curve by being different at different points. At the top of the curve, elasticity is more elastic, meaning small changes in price lead to larger changes in quantity demanded. At the bottom of the curve, elasticity is less elastic, meaning changes in price have less impact on quantity demanded.
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
Unitary Elactic
elasticity
See the related link. A perfectly inelastic demand would be a line straight up and down. That would show that demand is constant regardless of the price.
They are both used to interpret the demand curve. The slope is just the slope, rise or run, ΔY/ΔX. Elasticity is the percentage change in one variable resulting from a percentage change in another variable. Thus, the price elasticity of demand is the percentage change in quantity demanded of a good resulting from a percent change in its price. (P/Q)( ΔQ/ ΔP) This implies that the elasticity is not constant and the elasticity changes along the curve; elasticity goes from 0 (when price is 0) to infinity (when price is very high). Elasticity is a more useful tool for data analysis because it eliminates units and thus the data is easier to interpret. Elasticity is also useful when large numbers are an obstacle in interpreting data like with wage. It is also useful when the taking the log with a set of data preserves the integrity of the data, since elasticity is the slope of the log of the data points.
Is negatively sloped linear curve
price elasticities are always negative hence brings ambiguities in the demand curve