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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the formula for calculating elasticity?

To determine

Write the formula for calculating the elasticity.

Explanation

There are two formulas for calculating the elasticity, the first formula is percentage formula which is given below:

e = % change in quantity of good% change in price of good

The second formula for calculating the elasticity when the percentage change is not given is given below:

e

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