Elasticity is Not Slope (i.e., PED doe not equal slope)

Описание к видео Elasticity is Not Slope (i.e., PED doe not equal slope)

The price elasticity of the demand curve is not the slope of the demand curve. The slope of a curve is the change of the dependent variable over the change of the independent variable. The elasticity of the demand curve is the percent change of the dependent variable (quantity demanded) over the percent change of the independent variable (price). This video is made for 1st year college students or AP/IB Economics students. It focuses on foundational economic concepts.

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