ph16
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change in quantity demanded<br />
ep<br />
% %<br />
change in price<br />
or, ep <br />
% D Q<br />
% D P<br />
At a point on a demand function this can be<br />
calculated by:<br />
ep =<br />
Q2 - Q1 = D Q<br />
Q2 - Q1<br />
Q1<br />
P2 - P1 = D P =<br />
P2 - P1<br />
P1<br />
D Q<br />
Q1<br />
D P<br />
P1<br />
Fall '97 www.elearnuganda.net Slide 6
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