The Arc elasticity formula is used to
estimate elasticity when
O
the product is thought to be elastic
O the demand function is known
O
Ο
the product is thought to be inelastic
the change in one variable is due to large
change in the other variable
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The Arc elasticity formula is used to
estimate elasticity when
O
the product is thought to be elastic
O the demand function is known
O
Ο
the product is thought to be inelastic
the change in one variable is due to large
change in the other variable
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