Own-price elasticity of demand dqdp pq or dydp py the
Own-price elasticity of demand (dQ/dP) P/Q or (dy/dp) p/y. The important point dQ/dP<0 means downward sloping. (dP/dQ) Q/P is what we call a flexibility. It is simply the inverse of the elasticity.
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own-price elasticity of demand dqdp pq or dydp py the important point dqdplt0 means downward sloping dpdq qp is what we
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