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#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
fundamentally all elasticities are calculated the same way: they are ratios of percentage changes
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4. DEMAND ELASTICITIES
is to changes in the independent variables that affect them. Here is where the concept of elasticity of demand and supply plays a crucial role in microeconomics. We will examine several elasticities of demand, but the crucial element is that <span>fundamentally all elasticities are calculated the same way: they are ratios of percentage changes. Let us begin with the sensitivity of quantity demanded to changes in the own-price. <span><body><html>


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