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Distinguish Between :Percentage Method of Counting Elasticity of Demand and Geometric Method of Counting Elasticity of Demand. - Economics

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Question

Distinguish between :

Percentage method of counting elasticity of demand and Geometric method of counting elasticity of demand.

Solution

Basis of Difference Percentage method of counting elasticity of demand Geometric method of counting elasticity of demand
Method
\[E_d = \frac{\text { Percentage change in demand}}{\text { Percentage change in price}}\]

\[E_d = \frac{\text { Lower segment of the demand curve}}{\text { Upper segment of the demand curve}}\]
Also known as Arithmetic method Point elasticity method
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APPEARS IN

 2012-2013 (March) (with solutions)
Question 3.1.3 | 2.00 marks

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Solution Distinguish Between :Percentage Method of Counting Elasticity of Demand and Geometric Method of Counting Elasticity of Demand. Concept: Supply Curve and Schedule.
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