Formula Chart – AP Microeconomics Unit 2 – Supply and ...
Formula Chart – AP Microeconomics Unit 2 – Supply and Demand Total Revenue = price x quantity Total revenue test P Coefficient of price elasticity of demand: % ∆ quantity demanded % ∆ price Coefficient > 1 = elastic demand Coefficient < 1 = inelastic demand Coefficient = 1 = unit elastic demand ... ................
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