(Answered) When a demand curve is linear,demand is elastic at low prices.demand is elastic at high prices.the…

➤ How do I calculate price elasticity at a specific price on a linear demand?
Use the point formula ε = (dQ/dP)·(P/Q). For Q = a + bP, dQ/dP = b (the slope). Insert the current price P and the corresponding quantity Q into the formula to get ε at that point. Interpret |ε|>1 as elastic and |ε|<1 as inelastic.