How to estimate a demand function if price elasticity is known?
Answers
Answered by
1
Answer:
How to find demand elasticity from the demand function?
The price elasticity of demand is calculated as the percentage change in quantity divided by the percentage change in price. Therefore, the elasticity of demand between these two points is 6.9%−15.4% which is 0.45, an amount smaller than one, showing that the demand is inelastic in this interval.
Answered by
0
I hOpE iTs hElP yOu:):):):)
Attachments:
Similar questions