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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Prove that price elasticity of demand is not the same as the slope of a demand curve.

To determine

Identify the difference between the price elasticity of demand and slope of the demand curve.

Explanation

The price elasticity of demand can be calculated using the following formula:

Ed=Percentage change in quantity demandedPercentage change in price (1)

The slope of the demand can be calculated using the following formula:

Slope=Change in variable on ve

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