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Problems Using Point Elasticity
- We may need to compute price elasticity over portion of demand curve instead of at a single point.
- The price and quantity used as base will alter price elasticity of demand.
Point Elasticity of Demand: An Example
-Assume that
Elasticity equals:
-33.33/.25 = -1.33 or -.50/.20 = -2.54
-Which one is correct out of these?
an introduction
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price quantity 10 60 20 70 30 90 40 110 50 130 derived a supply function for the relation between price and quantity
IS Mn3O4 basic or amphoteric.
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