Question

what is difference between slope of demand and elasticity of demand

Answer 1

Explanation:

Slope of demand curve at any point refers to change in quantity demanded due to change in price. Therefore, slope of demand curve=(∆ Quantity demanded)/(∆price) or ∆Qx/∆Px

Elasticity of demand measures the percentage of change in quantity demanded as a result of change in price. Therefore, elasticity of demand= [(∆Quantity demanded)*100/(Original quantity's demanded)] / [(∆Price)*100/(Original price)]

Answer 2

Answer:

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