Even though the slope of a linear demand curve is constant, the elasticity is not. This is
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Elasticity along a straight line demand curve varies from zero at the quantity axis to infinity at the price axis. ... At the midpoint ... elasticity is equal to one, or unit elastic.
Please explain the above intuitively?
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Think of it this way A yacht costs 001 How much do you demand Then double the price Now how many ...View the full answer
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