Quotulatiousness

April 27, 2015

Calculating the Elasticity of Demand

Filed under: Economics — Tags: , — Nicholas @ 02:02

Published on 27 Jan 2015

Elasticity of demand is equal to the percentage change of quantity demanded divided by percentage change in price. In this video, we go over specific terminology and notation, including how to use the midpoint formula. We apply elasticity of demand to the war on drugs, and more broadly to the prohibition of a good when it has an elastic demand.

Related posts:

  1. Elasticity of Demand
  2. Supply and Demand Terminology
  3. The Demand Curve Shifts
  4. The Demand Curve
  5. A Deeper Look at the Demand Curve

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