Elasticity of Demand
Completion requirements
Revisit the previous explanation by watching this video and further your
understanding by interpreting the results of price elasticity of
demand. Pay close attention to whether we are using the absolute value
to calculate elasticity. Avoid memorizing the interpretation of the
results; they are so intuitive that it is not worth occupying your
brain's storage capacity with these details. Be sure to grasp the
concept that elasticity is a unit-free measure.
Source: Mary J. McGlasson, https://www.youtube.com/watch?v=4oj_lnj6pXA
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Last modified: Wednesday, 31 July 2024, 9:24 AM