Monday, January 23, 2017

Calculating Elasticity- January 11, 2017

Calculating Elasticity

  • STEP 1:
    New Quantity - Old Quantity
    Old Quantity
  • STEP 2:
    New Price - Old Price
    Old Price

  • STEP 3: PED
    % change in Quantity
    % change in Price
  • STEP 4: Total Revenue
    Price x Quantity




Posted by at

1 comment:

  1. Hufsa K.January 24, 2017 at 10:18 PM

    I really liked the video you used for this topic. The video helped expand my understanding of elasticity and total revenue. Especially at the end of the video, when he explains the relationship of the two and how to differ between elastic and inelastic when looking at price and total revenue.

    ReplyDelete

Subscribe to: Post Comments (Atom)