How can one determine the elasticity of demand from a demand function?

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1035877

2026-08-02 09:45

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To determine the elasticity of demand from a demand function, you can use the formula: elasticity of demand ( change in quantity demanded) / ( change in price). This formula helps measure how responsive the quantity demanded is to changes in price. A higher elasticity value indicates a more sensitive demand, while a lower value indicates less sensitivity.

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