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Expanded formula
:<math>\frac{% \Delta Q}{% \Delta P}</math>
:<math>\frac{% \Delta Q}{% \Delta P} = \frac{\frac{Q_{new}-Q_{old}}{Q_{old}}{\frac{P_{new}-P_{old}}{P_{old}}}</math>
Since a price increase generally leads to a decrease in quantity demanded, elasticity is generally expressed as an absolute value; price-elasticity of demand is understood to be negative.
Since a price increase generally leads to a decrease in quantity demanded, elasticity is generally expressed as an absolute value; price-elasticity of demand is understood to be negative.
When two points are of interest, the [[Arc elasticity of demand|arc elasticity}} is used, rather than both point elasticities.
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].