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.
the market demand curve is the curve related to the demand of the commodity demanded by the group of people to the at different price.
The upward movement of the demand curve indicates the rising demand of the product, whereas downward movement of the demand curve indicates falling demand.
Assuming that the given demand curve is a rectangular hyperbola, total expenditure (i.e. rectangular area or Q*P) is the same for each point on the length of the curve. Next we use the demand function to determine the total expenditure value as Q=1/P=>Q*P=1, and we have consequently a demand curve of unitary elasticity.
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
Assuming that the given demand curve is a rectangular hyperbola, total expenditure (i.e. rectangular area or Q*P) is the same for each point on the length of the curve. Next we use the demand function to determine the total expenditure value as Q=1/P=>Q*P=1, and we have consequently a demand curve of unitary elasticity.
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
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
It is a graphical representation of a demand schedule showing the quantity demanded at different prices.
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.
price consumption curve :this indicates the income of the consumer being given,how the demand of a good will be effected with change in its price.it means that both price consumption curve and demand curve indicate different quantities of a good demanded by the consumer at different prices.
An increase in demand is represented by a shift of the demand curve to the right; not a movement along the demand curve. An increase in the quantity demanded would be a movement down the demand curve.
When the demand of a product increases, so will the supply. Manufacturers will produce more of the product in order to get more money.
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.
Distinguish between the movement along the demand curve and shift in demand curve with the assistance of suitable graphs and explanations?
Demand schedule is a tabular representation nd Demand curve is a graphical representation
by looking at it