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user:Patrick, I am not sure about some of your edits. You say that elasticity is high beyond a price point. That is incorrect. As I originally stated,elasticity is dropping beyond a price point. Elasticity gradually increases up to a local maximum at each price point, then drops after that point. Also you seem to take issue with the issue of local highs, waves, and crests. If the overall demand curve was perfectly elastic, (horizontal), you would be right,a wave pattern would create multiple quantity demands for some prices, but (and I admit I forgot to mention this in the article) the overall slope of the demand curve is downward sloping to the right. Because of this, the curve can have a wave or scallop pattern with multiple localized high points. I think it would be best if I learn how to add pictures to this 'opedia, because they would make the concept much clearer. user:mydogategodshat
To me smooth refers to the derivatives (mathematics), I think the word should be 'concave', or 'non-monotonic'. njh 05:41, 16 August 2005 (UTC)
to me, the opening to this page is a bit too abstract. Just a thought.
![]() | This page is an archive of past discussions. Do not edit the contents of this page. If you wish to start a new discussion or revive an old one, please do so on the current talk page. |
user:Patrick, I am not sure about some of your edits. You say that elasticity is high beyond a price point. That is incorrect. As I originally stated,elasticity is dropping beyond a price point. Elasticity gradually increases up to a local maximum at each price point, then drops after that point. Also you seem to take issue with the issue of local highs, waves, and crests. If the overall demand curve was perfectly elastic, (horizontal), you would be right,a wave pattern would create multiple quantity demands for some prices, but (and I admit I forgot to mention this in the article) the overall slope of the demand curve is downward sloping to the right. Because of this, the curve can have a wave or scallop pattern with multiple localized high points. I think it would be best if I learn how to add pictures to this 'opedia, because they would make the concept much clearer. user:mydogategodshat
To me smooth refers to the derivatives (mathematics), I think the word should be 'concave', or 'non-monotonic'. njh 05:41, 16 August 2005 (UTC)
to me, the opening to this page is a bit too abstract. Just a thought.