| << Chapter < Page | Chapter >> Page > |
Card 4 / 11:
Why is the demand curve with constant unitary elasticity concave?
The demand curve with constant unitary elasticity is concave because at high prices, a one percent decrease in price results in more than a one percent increase in quantity. As we move down the demand curve, price drops and the one percent decrease in price causes less than a one percent increase in quantity.
| Previous Card | ← Previous Card Button |
| Next Card | → Next Card Button |
| Flip Card | ↑ / ↓ / Return / Space |
Notification Switch
Would you like to follow the 'Openstax microeconomics in ten weeks' conversation and receive update notifications?
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|