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when P falls from 8-6 (PED= 4)
When P falls from 6-4 (PED= 1.5)
When P falls from 4-2 (PED= 0.66)
Note the rule: PED falls as you move down a Demand Curve. At the half way point it is =1.
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when P falls from 8-6 (PED= 4)
When P falls from 6-4 (PED= 1.5)
When P falls from 4-2 (PED= 0.66)
Note the rule: PED falls as you move down a Demand Curve. At the half way point it is =1.