3 Tutorials that teach Own-price Elasticity
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Own-price Elasticity

Own-price Elasticity

Author: Catherine Barry
This lesson will explain Own-price Elasticity
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Notes on "Own-Price Elasticity"


Terms to Know

Midpoint Formula

 The middle point that represents the average of price and

supply when determining price elasticity. 


   all divided by 


Arc Price Elasticity

Dividing the percent change in quantity by the percent 

change in price to analyze the relationship between the two economic variables.


 Elasticity of demand when the price of a good changes, keeping all

other variables and goods separate.