# d. Explain in a nontechnical way why demand is elastic in the upper-left segment of the demand curve and inelastic inthe lower-right segmentInstructions: You may select more than one answer. Click the box with a check mark for correct answers and click toempty the box for the wrong answers.When the initial price is high and the initlal quantity is low, the percentage change in quantity exceeds thepercentage change in price, making demand elasticWhen the initial price is low and the initlal quantity is high, the percentage change in quantity is less than thepercentage change in price, making demand inelastic.When the initlal price is low and the initial quantity is high, the percentage change in quantity is less than thepercentage change in price, making demand elasticWhen the linitial price is high and the initlal quantity is low, the percentage change in quantity exceeds thepercentage change in price, making demand inelastic. The data below represent a demand schedule.QuantityDemandedProduct Price\$6C543341506a. In the diagram below, draw a demand curveInstructions: Use the tool provided Demand to graphically show demand. This line should only contain the twoendpointsDemand ScheduleToolsDemand57Quantity demandedb. Use the midpoint formula for Eqto determine price elasticity of demand for each of the four possible \$1 pricechangesInstructions: Round your answers to 2 decimal places. Enter your answers as positive values (absolute valuesMoving from \$5 to\$4, EdMoving from \$4 toS3, EdMoving from \$3 toS2, EdMoving from \$2 to\$1, Edc. What can you conclude about the relationship between the slope of the demand curve above and its elasticity?The demand curve has a constant slope of-1and elasticity decreasesas we movedown the curve.eaud onpod

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Asked Oct 2, 2019
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i just want part d done.

use the 10abc file for the additional information needed

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## Expert Answer

Step 1

As we move from upper-left to lower-right in the demand curve, the elasticity changes from 6 to 0.33...

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### Measurements of elasticity

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