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“Own” Price Elasticity<br />
· Sometimes called “price elasticity”<br />
· can be computed at a point on a demand<br />
function or as an average [arc] between two<br />
points on a demand function<br />
· ep, h, e are common symbols used to represent<br />
price elasticity<br />
· Price elasticity [ep] is related to revenue<br />
· “How will a change in price effect the total<br />
revenue?” is an important question.<br />
Fall '97 www.elearnuganda.net Slide 4
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