251Ch4lecture3 - Below midpoint, d < 1 Above midpoint, d...

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9/5/2011 1 1 Chapter 4: Elasticity Lecture 3: Elasticity along a linear demand curve ε d and linear demand Elasticity and linear demand As prices rise, demand becomes more elastic
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Unformatted text preview: Below midpoint, d < 1 Above midpoint, d >1 Midpoint, d = 1 P Q 12 6 2 4 6 8 10 1 2 3 4 5 d =3 Midpoint d=1 d= D...
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This note was uploaded on 09/21/2011 for the course ECON 251 taught by Professor Blanchard during the Spring '08 term at Purdue University-West Lafayette.

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