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raalsale
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what the diferent btween elasticity in demand and supply?
 2 years ago
 2 years ago
raalsale Group Title
what the diferent btween elasticity in demand and supply?
 2 years ago
 2 years ago

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Signjoy Group TitleBest ResponseYou've already chosen the best response.0
Elasticity of demand is change in quantity demanded per unit change in price. Elasticity of supply is change in quantity supplied per unit change in price.
 2 years ago

Klanfer Group TitleBest ResponseYou've already chosen the best response.0
Remember that elasticity is a concept related to percentage. The priceelasticity of demand is the folowing fraction: % change in quantity demanded / % change in price. For the supply case, just think of the % change in quantity supplied
 2 years ago

Year11economics Group TitleBest ResponseYou've already chosen the best response.0
A good way to look at it is through graphs! (yay graphs) dw:1351679359470:dw
 2 years ago
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