5. In the following diagram, an outward shift in the production possibilities curve implies Consumer goods A 150 Long term increase in PPP 70 210 460 Capital goods 586. What is Demand low and what does it means, and why is the demand curve has negative slope, and what is the difference between shifting in demand curve and moving on the same curve from one point to another. 1.1 Price ($ per pack) 1.44 1.5 Quantity (billion packs a month) Figure 3.1 Calculating own-price elasticity. 7. For the same demand curve, the elasticity of demand when the quantity rises from 1.44 to 1.5 is 8. For the same demand curve, the percentage change in total revenue associated with a fall in the price from 1.1 to 1 is