What Is the Smallest Slope on the Curve

With the slope or intercept from least squares curve fitting a little more care is justified. The denominator of the formula given in Equation 52 for the price elasticity of demand percentage change in price approaches zero.

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Is the same as the smallest number of significant figures in the data.

. The price elasticity of demand in this case is therefore infinite and the demand curve is said to be perfectly elastic. From these two lines you can obtain the largest and smallest values of a and b still consistent with the data a min and b min a max and b max. This means that even the smallest price changes have enormous effects on quantity demanded.

From their deviation from the best values you then determine as indicated in the beginning the uncertainties D a and D b. Using curve fitting it was found that ln A 987 4.

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