Why Is the Price Elasticity of Demand Generally a Negative

question 40

Essay

Why is the price elasticity of demand generally a negative number?

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Definitions:

Point

A singular location in space that can represent a position on a graph or in a geometric context.

Slope-Intercept Form

A linear equation of the form y = mx + b, where m is the slope and b is the y-intercept.

Equation

A statement that asserts the equality of two expressions, usually represented by the symbol "=".

Slope-Intercept Form

A way of writing the equation of a line as y = mx + b, where m is the slope and b is the y-intercept.