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Calculating the Elasticity of Demand

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Title:
Calculating the Elasticity of Demand
Description:

Elasticity of demand is equal to the percentage change of quantity demanded divided by percentage change in price. In this video, we go over specific terminology and notation, including how to use the midpoint formula. We apply elasticity of demand to the war on drugs, and more broadly to the prohibition of a good when it has an elastic demand.

Microeconomics Course: http://mruniversity.com/courses/principles-economics-microeconomics

Ask a question about the video: http://mruniversity.com/courses/principles-economics-microeconomics/calculate-elasticity-demand-formula#QandA

Next video: http://mruniversity.com/courses/principles-economics-microeconomics/elasticity-supply-midpoint-formula

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Video Language:
English
Team:
Marginal Revolution University
Project:
Micro
Duration:
15:52
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