How is price elasticity of demand measured by point method?
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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 method is applied when there is small change in price and quantity demanded of the commodity.
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Point Method
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 method is applied when there is small change in price and quantity demanded of the commodity.
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