Economics · Economics
Which of the following formulas represents arc elasticity of demand?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Δq / Δp * (q1 + q2) / (p1 + p2)
- 2- Δq / Δp * (q1 + q2) / (p1 + p2)
- 3Δq / Δp * (p1 + p2) / (q1 + q2)✓
- 4Δq / Δp * (q1 - q2) / (p1 - p2)
Correct answer
Δq / Δp * (p1 + p2) / (q1 + q2)
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