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Elasticity of demand is not the slope of the curve. The percentage part of the equation is crucial. Use the formula Sal gives and test it by yourself. On a straight line, elasticity will be highest near the vertical. What about real elastic materials? In our article on Hooke's law and elasticity we discuss how real springs only obey Hooke's law over some particular range of applied force. In markets for financial capital, the elasticity of savings —the percentage change in the quantity of savings divided by the percentage change in interest rates—determines the shape of the supply.
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