Question

in the case of a straight line demand curve meeting the two axes the price elasticity of demand at the mid point of the line would be:a=0,b=1,c=1.5,d=2

Answer 1

A demand curve:

We plot quantity demanded against price.

Since it is a straight line in this scenario, the demand is directly proportional to demand.

Meaning at P = 1 Q = 1

Elasticity = P / Q

The answer is thus 1

Answer 2

Answer:

Explanation:

A demand curve:

We plot quantity demanded against price.

Since it is a straight line in this scenario, the demand is directly proportional to demand.

Meaning at P = 1 Q = 1

Elasticity = P / Q

The answer is thus 1