Consider the downward-sloping linear demand curve in the figure at the right. Use the line drawing tool to draw and label another straight-line downward-sloping demand curve, D₁, that intersects point A and is relatively more inelastic than the original demand curve. Be sure to draw your new demand curve intersecting point A, but do not draw a vertical or horizontal line. Carefully follow the instructions above, and only draw the required object. Price 50- 40- 30- 20- 10- (0,33.96) 10 A 30 20 Quantity Demand 40 50

Consider the downward-sloping linear demand curve in the figure at the right. Use the line drawing tool to draw and label another straight-line downward-sloping demand curve, D₁, that intersects point A and is relatively more inelastic than the original demand curve. Be sure to draw your new demand curve intersecting point A, but do not draw a vertical or horizontal line. Carefully follow the instructions above, and only draw the required object. Price 50- 40- 30- 20- 10- (0,33.96) 10 A 30 20 Quantity Demand 40 50

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 6QP: Suppose a straight-line downward-sloping demand curve shifts rightward. Is the price elasticity of...

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