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Point elasticity, economics, Microeconomics
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinitesimally small. As marginal analysis works by evaluating small changes taken with respect to an initial decision, it is often useful to measure elasticity w.r.t. infinitesimally small changes in price.
Posted Date: 2/8/2012 2:53:03 AM | Location : United States
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