PRICE ELASTICTY AND SLOPE OF DEMAND CURVE
Learning Contents: · Slope of the Demand curve and Price Elasticity of Demand · The demand curve may have the same slope but different elasticity. · Relationship between Price Elasticity and Slope of the Demand curve The slope of the demand curve and the price elasticity of demand are different concepts but related to each other. As the price elasticity of demand is equal to the inverse of the slope of the demand curve times the ratio of price to quantity...