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All right.
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So we are doing question number 14 from chapter 3.
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And question 14 is asking, will demand curves have the same shape in all markets? if not, how will they differ? and the answer, as you might expect, is no.
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Demand curves will not always have the same shape.
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And the thing that's going to change among them is their slope.
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So let's start with a price or with a supply and demand curve, normal, you know, normalish supply curve.
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Let's say, here's our typical demand curve, right? here we go.
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Now, let's think of another market.
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Let's think of a market where demand really, or rather, let me phrase it this way.
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A change in price really isn't going to affect how much you want something.
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You know, for whatever reason, if the price is something goes up a lot, you still, a lot of people still want it.
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Oh, whoops, i drew my demand curve.
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That.
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And that is what's something that's called elasticity, which you'll learn a while from now.
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But the way that's going to be shown differently would be the slope.
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So like let's do, let's make it like this...