09-23-2008, 05:11 PM
here is the problem:
We have seen the following:
1) the Price Elasticity of Demand is NOT constant along a straight-line demand curve.
2) UNLESS that straight line demand curve is either perfectly elastic or perfectly inelastic.
Ignoring these two cases, draw, write the formula for and explain intuitively demand curves where the elasticity is constant at a value between 0 and infinity
any and all thoughts would be gretly appreciated.
be well
rob
We have seen the following:
1) the Price Elasticity of Demand is NOT constant along a straight-line demand curve.
2) UNLESS that straight line demand curve is either perfectly elastic or perfectly inelastic.
Ignoring these two cases, draw, write the formula for and explain intuitively demand curves where the elasticity is constant at a value between 0 and infinity
any and all thoughts would be gretly appreciated.
be well
rob