Question

explain the two method of elastic of demanad

Answer 1

Alfred Marshall. This method is used to measure the price elasticity of demand at any given point in the curve. According to this method, elasticity of demand will be different on each point of a demand curve. Thus, this methodis applied when there is small change in price and quantity demanded of the commodity.




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Answer 2

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⏯️Measuring Price Elasticity of Demand: 4 Methods

◀️The Percentage Method: The price elasticity of demand is measured by its coefficient (Ep). ...

⏪The Point Method: Prof. Marshall devised a geometrical method for measuring elasticity at a point on the demand curve. ...

▶️The Arc Method: ...

The Total Outlay Method:


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