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1 May, 03:26

The price elasticity of demand of a linear demand curve is

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  1. 1 May, 05:25
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    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.
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