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Welcome to the Q&A for ECN/APEC 2010, where you can ask questions and receive answers from your fellow students, the TA, and your professor.

Please only ask questions about the material for the course. Try to create discussions about the material we see in class, instead of just thinking of economics in general (this is an introduction to microeconomics class, not a policy or government class).

For questions and discussions about course organization or other course related topics, come see us after class or during office hours.

Feel free to discuss quiz questions on the Q&A, but do not provide direct answers to quiz questions before the quiz's due date.

How is the elasticity of demand solved for without the percentage change numbers?

+2 votes
15 views
I assume we solve for the same formula but it will take longer to get there.
asked Feb 13 by canvas-2f7ae169c9399 (550 points)
Could you give an example of a problem where you are not sure how to compute the elasticity?
Elasticity is specific to a change from one point to another for our applications in this class. You need four points to calculate elasticity, the initial price and quantity and the final price and quantity, and find the percentage change in each. You could be given only 3 of the four points also, and the elasticity for the price change, and be able to find the fourth point (either initial price or quantity or final price or quantity).
Maybe not an exact duplicate, but you might find this other question and its answer useful: http://ecnapec2010.name/Q&A/index.php?qa=333&qa_1=how-do-we-calculate-the-change-in-percentage-on-elasticity
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