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1. The two demand curves in Figure 5-7 in the textbook (p. 123) are linear demands parallel to each other. a. Show that the demand curve for 1986 in Figure 5-7 is more elastic at every price than the demand curve in 1971. (2) In figure 5-1 the elasticity at point 1 along the 1986 demand curve is A/B and the elasticity at point 2 on the 1971 demand curve is A/Bp. Since in both figures the distance A is the same, the 1986 demand curve is more elastic. b. Show that the demand curve for 1986 in Figure 5-7 is less elastic at every quantity than the demand curve in 1971
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