Question

Draw a demand curve which has unit elasticity only at one point.

Answer 1

Price elasticity of demand at different points on a straight line demand curve:

We can use the above method (or formula) of point elasticity for measuring elasticity at different points on a straight line demand curve starting from Y-axis and terminating at X-axis. We can easily explain that the price elasticity of demand at different points of the straight line demand curve is different.