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What are the examples for exceptional demand curve?
Example of a Linear Demand Curve
What is difference between slope and the calculation of elasticity for a linear demand curve?
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
Is price elasticity constant along demand curves?
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
A demand curve with Unitary Elasticity at all points is?
Is negatively sloped linear curve
How does a change in price on a linear demand curve affect total revenue?
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.
What are the examples for exceptional demand curve?
Example of a Linear Demand Curve
What is difference between slope and the calculation of elasticity for a linear demand curve?
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
Is price elasticity constant along demand curves?
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.
A demand curve with Unitary Elasticity at all points is?
Is negatively sloped linear curve
How does a change in price on a linear demand curve affect total revenue?
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.
Along a linear demand curve as the price rises demand becomes more?
elastic
Where is total revenue maximized along a linear demand curve?
Unit elastic
Why demand curve is convex?
Convex function on an open set has no more than one minimum. In demand it shows the elasticity is linear after some point and non linear on other points.
Why is Production Possibility Curve concave to the origin?
I have never heard that the demand curve must be concave. In fact, it is most often modeled as either linear or convex. Common convex specifications include log-linear and constant-elasticity demand functions. A number of empirical papers attempt to estimate the shape of the demand curve for specific products but I am not familiar with anyone concluding that demand is concave generally.
Does the ceteris paribus assumption affect a demand curve?
It isolates factors and only looks at one cause and effect at a time. This is why the demand curve is a linear equation (straight line). It wouldn't be possible in real life.
What is the difference between a linear curve and a parabolic curve?
a linear curve does not represent x^2
What is the relationship between the demand curve and the concept of perfect substitutes in a graph of perfect substitutes?
In a graph of perfect substitutes, the demand curve is a straight line because consumers are willing to switch between the two goods at a constant rate. This means that as the price of one good decreases, consumers will demand more of that good and less of the other, resulting in a linear demand curve.
