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1. Suppose two linear demand curves D1 and D2 have the same vertical intercept and D1...

1. Suppose two linear demand curves D1 and D2 have the same vertical intercept and D1 is steeper than D2:

i. At any given P, which demand is more elastic?

ii. At any given Q, which demand is more elastic?

2 Suppose two linear demand curves D1 and D2 are parallel to each other and D1 is higher than D2:

i. At any given P, which demand is more elastic?

ii. At any given Q, which demand is more elastic?

2. What is the difference between a "constant slope" demand curve and a "constant elasticity" demand curve? Give examples for each one of

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