Earlier you defined elasticity as a change between two points on the curve and now speak of elasticity of a point (unless I misunderstood you). How is this defined? By using limits?
@elias2718 Watch my video called "Elasticity E". Let d="change in", and rewrite (dp/p)/(dq/q) as (dp/dq) * (q/p), replacing the average P and average Q with one P and Q, and change in P/change in Q =run/rise, or the inverse of the slope. Trust me, my video makes it easier than typing text. :)
It is necessary 3 kind of line (tilt of line) for 3 event,
else TR1=TR2=TR3
univermgu 1 month ago
Earlier you defined elasticity as a change between two points on the curve and now speak of elasticity of a point (unless I misunderstood you). How is this defined? By using limits?
elias2718 1 month ago in playlist Microeconomics
@elias2718 Watch my video called "Elasticity E". Let d="change in", and rewrite (dp/p)/(dq/q) as (dp/dq) * (q/p), replacing the average P and average Q with one P and Q, and change in P/change in Q =run/rise, or the inverse of the slope. Trust me, my video makes it easier than typing text. :)
BurkeyAcademy 1 month ago
first!
lf2game 1 month ago