Question

how much is price elaticity of demand in case of a straight line demand curve at x intercept, at y intercept and at the midpoint​

Answer 1

Explanation:

Mid point elasticity of demand is batter then point elasticity of demand, because the results of mid point elasticity of demand is stable whatever the direction is,but the point elasticity of demand change if the direction is changed. i.e Mid point elasticity of demand give the same if price change A to B or B to A, but point elasticity of give different values in this case

here intercept point is the extream point and at the extream point, mid point and point elasticity of demand give the same value, At point X on the horizontal axis both elasticity deman is perfecly elastic and at the point Y on the vertical axis is perfectly inelastic.

if you have any questions we can ask me in the comment box,