question\nthe equation for a demand curve is $p = 2/q$. would you expect the elasticity of demand as price…

question\nthe equation for a demand curve is $p = 2/q$. would you expect the elasticity of demand as price in dollars falls from 5 to 4 to be the same as the elasticity of demand as the price falls from 9 to 8? why?\nselect the correct answer below:\nyes, because slope and elasticity are the same throughout the entire demand curve.\nyes, because it is calculated by the rate of change along the curve, or the rise/run.\nno, because the percent change in price is not equal and the quantity is not the same at each part of the demand curve.\nthere is not enough information to answer this question.

question\nthe equation for a demand curve is $p = 2/q$. would you expect the elasticity of demand as price in dollars falls from 5 to 4 to be the same as the elasticity of demand as the price falls from 9 to 8? why?\nselect the correct answer below:\nyes, because slope and elasticity are the same throughout the entire demand curve.\nyes, because it is calculated by the rate of change along the curve, or the rise/run.\nno, because the percent change in price is not equal and the quantity is not the same at each part of the demand curve.\nthere is not enough information to answer this question.

Answer

Brief Explanations:

Elasticity of demand is calculated as the percentage - change in quantity demanded divided by the percentage - change in price. The percentage change in price and quantity varies at different points on the demand curve. Just because the demand curve equation is given, the percentage changes in price and quantity are not the same for different price intervals (5 - 4 and 9 - 8). The quantity demanded at different price levels is different based on the equation $P=\frac{2}{Q}$ (so $Q = \frac{2}{P}$), and thus the percentage changes in price and quantity will differ between the two intervals.

Answer:

C. No, because the percent change in price is not equal and the quantity is not the same at each part of the demand curve.