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Economics Homework Ten - Model (view source)
Revision as of 21:20, November 26, 2009
, 21:20, November 26, 2009no edit summary
::If the new P and Q are denoted by P<sub>2</sub> and Q<sub>2</sub>, and the old P and Q are denoted by P<sub>1</sub> and Q<sub>1</sub>, then:
::If the new P and Q are denoted by P<sub>2</sub> and Q<sub>2</sub>, and the old P and Q are denoted by P<sub>1</sub> and Q<sub>1</sub>, then:
:::P<ref>ed</ref>=((Q<ref>2</ref>-Q<ref>1</ref>)/Q<ref>1</ref>)/((P<ref>2</ref>-P<ref>1</ref>)/P<ref>1</ref>)
:::P<sub>ed</sub>=((Q<sub>2</sub>-Q<sub>1</sub>)/Q<sub>1</sub>)/((P<sub>2</sub>-P<sub>1</sub>)/P<sub>1</sub>)
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