Demand curves relatively more elastic at price

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Demand curves relatively more elastic at price

Scrutiny of demand curves DD and D₀D₀ reveals such that: (1) D₀D₀ is relatively more elastic at a price of P₁. (2) DD is relatively more elastic at a price of P₂. (3) D0D0 probably reflects the demand for a biological necessity. (4) DD most likely represents the demand for a good along with more close substitutes. (5) price elasticity is constant along DD but not along D₀D₀.

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