CALCULATING ELASTICITIES | Formula & Equations | Exam Prep
Level: University
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Learn about what elasticities in terms of microeconomics mean and what the formula looks like. You will be able to differentiate between price- and demand elasticity. Use the Mid-Point-Method or Point-Slope Formula to calculate an elasticity. In addition, also look into income elasticity. In the end use the tasks with solutions to test your knowledge and prepare for your exam!