Apr 19, 2020 · Price Elasticity of Demand is also the slope of the demand curve. We can calculate the slope as “rise over run”. As the slope of the demand curve steepens, demand changes at a faster rate, which represents a higher elasticity. Conversely, flattening the curve causes demand to change at a slower rate, denoting relative inelasticity. Since the price elasticity of demand is one, price must decline by 5%. But for the original firm, a 10% increase in production and a 5% decline in price indicate a price elasticity of two, not one. As firms get more and more numerous in an industry, the demand curve each sees gets more and more elastic.

First, we compute the slope of the demand curve. We find the derivative of the demand function. {eq}Q = 100 - 2p \\ Q'' = - 2 {/eq} Now, we can compute the price elasticity of demand.

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