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  1. ender1983's Avatar

    • Join Date: Dec 2007
    • Posts: 10
    #1

    how do we read this in english

    dear teachers,

    can you help me to read this formula

    price elasticity = %change in quantity demanded/ %change in price

    By the way, am I right when I used the word "formula"

    if you give me a link that teach how to read different formulas it will be great

    thanks in advance

  2. RonBee's Avatar
    • Member Info
      • Native Language:
      • American English
      • Home Country:
      • United States
      • Current Location:
      • United States

    • Join Date: Feb 2003
    • Posts: 16,551
    #2

    Re: how do we read this in english

    Quote Originally Posted by ender1983 View Post


    price elasticity = %change in quantity demanded/ %change in price
    Prices can go up; prices can go down.

    (I would call it a definition, not a formula.)



    • Join Date: Nov 2007
    • Posts: 5,409
    #3

    Re: how do we read this in english

    Price Elasticity of Demand is regarded as a formula.

    You read it as:

    The Price Elasticity of Demand is equal to the percentage change in quantity demanded, divided by the percentage change in price.

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