Is geometric method in price elasticity of demand in syllabus ?
Answers
Answered by
0
The LM curve, the equilibrium points in the market for money, shifts for two reasons: changes in money demand and changes in the money supply. If the money supply increases (decreases), ceteris paribus, the interest rate is lower (higher) at each level of Y, or in other words, the LM curve shifts right (left).
Answered by
1
Answer:
Geometric method was suggested by Prof. Marshall and is used to measure the elasticity at a point on the demand curve. When there are infinitely small changes in price and demand, then the 'Geometric Method' is used. ... 4.1, elasticity at a particular point 'N' is calculated as NQ/NP.
Similar questions