Overview

point elasticity


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The ratio of a proportional change in one variable to that of another, measured at a point. For example, if p is price and q is quantity, the price elasticity of demand, ͛d, is defined as

͛d = (p/q)(dq/dp).

The point elasticity is the limit of the arc elasticity as the length of the arc tends to zero.

Subjects: Economics.


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