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Calculating the Elasticity of Demand

Tags: YouTube
Description: Elasticity of demand is equal to the percentage change of quantity demanded divided by percentage change in price. In this video, we go over specific terminology and notation, including how to use the midpoint formula. We apply elasticity of demand to the war on drugs, and more broadly to the prohibition of a good when it has an elastic demand. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1Qysho1 Next video: http://bit.ly/1S1yhuZ Help us caption & translate this video! http://amara.org/v/GCsY/
Views: 53
Category: Auto Create - CC_LARCH_ECON101
YouTube URL: https://youtu.be/lrGiZ7aTlQo
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