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SLOPE OF A DEMAND CURVE

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Learning Contents: ·          Slope of a Demand curve ·          Slope representation using Demand schedule and Demand curve ·          Types of  slope of a Demand curve Slope of  a demand curve The previous post explored the meaning of slope, how slope is calculated between any two points on a line. The slope of a demand curve can be found similarly to the slope of a line. This post would brief about the slope of a demand curve The demand curve usually slopes downward from left to right shows an inverse relationship between the quantity demanded of a commodity and its price. The slope is defined as the change in the variable on the Y-axis divided by the change in the variable on X-axis. Usually, price is shown on Y-axis, and quantity demand is shown on X-axis which forms a straight line downward sloping demand curve. So, the slope of a demand curve is the ratio of change in the price to change in quantity demand o