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Consider demand curve DFlat When the price is raised from P1 to P2, the price elasticity of demand computed using the endpoint method is: Consider demand curve DSteep When the price is raised from P1 to P2, the price elasticity of demand computed using the endpoint method is: D-Flat is elastic and D-Steep in inelastic D-Flat and D-Steep are both elastic. D-Flat and D-Steep are both inelastic. There is a bigger change in quantity to a change in price on D-Flat An increase in price will cause a decreae in total revnue/Expenditure when demand is inelastic. An increase in price will cause an increase in Total Revenue/Expenditre on D- Flat and a decrease on D-Steep.
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