Question

in the case of a straight line demand curve meeting the two Axes the price elasticity of demand at the midpoint of the line would be

Answer 1

In the case of a straight line demand curve meeting, the two Axes the price elasticity of demand at the midpoint of the line would be 1.

The straight line curve will be unity elastic whereas the unitary elastic E = 0.

The quality demand can be obtained easily by 1, p=1,q=1 elasticity=p ÷ q=1÷1=1