Answer: elastic in the upper half of any linear demand curve and price inelastic in the lower half.
Explanation:
Elasticity can be defined as the degree of responsiveness of a change in quantity demanded to a change in price.
The price elasticity of demand measures the degree of responsiveness of quantity demanded to changes in price; it is calculated by dividing the percentage change in quantity demanded by the percentage change in price.
Demand is price elastic in the upper half of any linear demand curve and price inelastic in the lower half.
Answer:
Small as it travels downwards, to the right,along the linear demand curve
Explanation:
The price elasticity of demand of a good or service is the change in the quantity demanded of a good or service divided by the change in price of that good or service. These are usually in percentages. This, when illustrated is;
% change in quantity demanded ÷ % change in price.
Price elasticity of demand Aldo means the point of responsiveness of quantity demanded to a change in price. As concerning price elasticity on a linear demand curve, linear signifies straight. When price elasticity of demand travels along the demand curve, it becomes smaller as it travels downwards, to the right. On a linear demand curve, the price elasticity of demand usually varies especially on the interval which we are measuring it. In the upper half of the linear demand curve, demand is price elastic and price, inelastic in its lower half
