Application in Economics
The arc elasticity of quantity demanded (or quantity supplied) Q with respect to price P, also known as the arc price elasticity of demand (or supply), is calculated as
Read more about this topic: Arc Elasticity
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“There are very few things impossible in themselves; and we do not want means to conquer difficulties so much as application and resolution in the use of means.”
—François, Duc De La Rochefoucauld (1613–1680)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)
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