Why does the price of elasticity of demand for a good decline as we move down along a straight-line demand curve

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deivsolms77 deivsolms77

09-05-2022
Social Studies

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Why does the price of elasticity of demand for a good decline as we move down along a straight-line demand curve

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ayokenny2001 ayokenny2001 · Answer 1 · 2022-05-16T10:51:41+02:00

The reason for the decline is because of declining marginal utility - the more of something that one has consumed, the less benefit.

What is elasticity of demand?

The price of elasticity of demand measures the percentage change in quantity demanded of a good due to percentage change in price of the good.

The demand of a good can be either elastic, inelastic or unitary elastic.

Hence, the reason for the decline is because of declining marginal utility - the more of something that one has consumed, the less benefit.

Learn more about elasticity of demand here : https://brainly.com/question/5078326

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