Graph the accompanying demand data,and then use mid point formula for  Ed to determine price elasticity of demand for each of the four possible  $1 price changes. What can you conclude about the relationship between the slope of a curve and its elasticity? Explain in a nontechnical way why demand is elastic in the northwest segment of the demand and inelastic in the southwest.  Product price.                  Quantity demanded $5.                                                1   4.                                                 2    3.                                                3    2.                                                 4    1.                                                5

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