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Elasticity, Microeconomics

How to calculate expenditure elasticity

December 6, 2018February 7, 2019 / econ101help / Leave a Comment on How to calculate expenditure elasticity

The expenditure elasticity is a measurement of how expenditure on a good changes in response to a price change. The…

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Elasticity, Microeconomics, Uncategorized

Cross price elasticity of demand

November 19, 2018November 1, 2019 / econ101help / Leave a Comment on Cross price elasticity of demand

Cross-price elasticity formulaComplementary goodSubstitute good Cross-price elasticity formula The cross-price elasticity of demand measures the responsiveness of a good to…

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Elasticity, Microeconomics

Types of price elasticity of demand

November 21, 2016November 17, 2018 / econ101help / Leave a Comment on Types of price elasticity of demand

The elasticity of demand () measures the responsiveness of demand to a change in price. It is defined as the…

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Consumer and Producer surplus, Elasticity

Consumer surplus with perfectly elastic demand

April 15, 2015January 4, 2017 / econ101help / Leave a Comment on Consumer surplus with perfectly elastic demand

This is going to be a quick post. This will cover consumer surplus when there is perfectly elastic demand. When…

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Elasticity, Microeconomics

Why does revenue decrease with elastic demand when price increases

October 23, 2014 / econ101help / Leave a Comment on Why does revenue decrease with elastic demand when price increases

if a good has elastic demand and a firm increases their price, the revenue of that firm will decrease. If…

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