A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 3 years ago
what the diferent btween elasticity in demand and supply?
anonymous
 3 years ago
what the diferent btween elasticity in demand and supply?

This Question is Open

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0Elasticity 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.

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0Remember 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

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0A good way to look at it is through graphs! (yay graphs) dw:1351679359470:dw
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.