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Elasticity, Microeconomics

Define elasticity | inelastic demand | elastic demand |Unit elasticity | short run v long run elasticty | Mid-point formula

October 23, 2014 / econ101help / Leave a Comment on Define elasticity | inelastic demand | elastic demand |Unit elasticity | short run v long run elasticty | Mid-point formula

Define Elasticity E = (Change in price ÷ Price) ÷ (Change in quantity ÷ Quantity) Where: change in price equals (Price 1 - Price 0)…

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