Flatter the curve, greater the elasticity of demand". explain
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Flatter the curve, greater the elasticity of demand denotes when the demand curve is horizontal then its demand will be perfectly priced in the elastic.
Flatter demand curve have greater price elasticity of demand.
When larger is the slope then it would have absolute value. Inelastic demand curve and price elastic demand curve are quite different.
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Answer:
Flatter the curve, greater the elasticity of demand denotes when the demand curve is horizontal then its demand will be perfectly priced in the elastic.
Flatter demand curve have greater price elasticity of demand.
When larger is the slope then it would have absolute value. Inelastic demand curve and price elastic demand curve are quite different.
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