quantity is much higher, and the price is much lower, so the percentage change in quantity demanded is smaller and

the percentage change in price is much higher. That means at the bottom of the curve we'd have a small numerator

over a large denominator, so the elasticity measure would be much lower, or inelastic.

As we move along the demand curve, the values for quantity and price go up or down, depending on which way we

are moving, so the percentages for, say, a $1 difference in price or a one unit difference in quantity, will change as

well, which means the ratios of those percentages and hence the elasticity will change.

5.2 Polar Cases of Elasticity and Constant Elasticity

LEARNING OBJECTIVES

By the end of this section, you will be able to:

• Differentiate between infinite and zero elasticity

• Analyze graphs in order to classify elasticity as constant unitary, infinite, or zero
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