Elasticity of the demand / offer

Elasticity of the demand:

Ecpx = - ((C1 - C0) / C0) / ((P1 - P0) / P0)) which can be written as: Ecpx = - %ΔC / %ΔP where:

C1 - the demand in the current period;

C0 - the demand in the initial period;

P1 - the price in the current period;

P0 - the price in the initial period;

And the elasticity of the offer:

Eopx = ((O1 - O0) / O0) / ((P1 - P0) / P0) also written as: Eopx = %ΔO / %ΔP where:

O1 - the offer in the current period;

O0 - the offer in the initial period;

P1 - the price in the current period;

P0 - the price in the initial period;

And no… I haven’t gone mad. Yet… Just wanted to write these down. For further reference. Hahaha.

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