What observations can you make about the behaviour of the slope with respect to price? answer given
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6675ecc7df65a_3596675ecc7bf1cd.jpg)
What observations can you make about the behaviour of the slope with respect to price?
answer given :The slope is negative over the entire ranges of prices, but it becomes less negative as the price increases. In other words the slope becomes smaller in absolute value and so demand becomes less responsive to the same absolute changes in the price level at higher prices.
My Question: I agree with most of the answers, however, I am not agreeing with the fact thats demand becomes less responsive at a higher price, I think the demand is inelastic as a lower price and elastic at a higher price, that means a same absolute change in the price will cause a higher quality change so its MORE responsive rather than less .
I am not sure whether my thinking is right, please clarify. thanks !
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6675ecc88f596_3606675ecc86c03f.jpg)