the calculation of price elasticity of demand and price elasticity of supply
what is in your mind
kochunni69 Wrote: ------------------------------------------------------- > what is in your mind pass the exam
anyway they are both calculated as the (variation of quantity)/ (variation of price) however: Elasticity of demand: we take the absolute value Elasticity of supply: we take both negative and positive values
Hmm, i don’t know… i suppose the calculation is the same, it’s just that the sign will be positive for supply and negative for demand.
It’s the same, just make sure you put the negative in if P or Q decreases.