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Elasticity (Microeconomics) Calculator

LAST UPDATE: June 20th, 2018

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What is elasticity?

In economics, elasticity is the measurement of how much one thing (such as quantity) changes when another thing (such as price) changes.

Formula

Elasticity = % Change in Quantity / % Change in Price

\text{Elasticity} = \frac{\frac{\text{Q2 - Q1}}{\text{Q1}}}{\frac{\text{P2 - P1}}{\text{P1}}}

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