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Elasticity
Elasticity
Elasticity
log of pricelnP
2 3 2 2.828427 0.693147 1.039721 -2 1.5
Demand curve
4.5
P
2
P
1.5 a
Q
1
Q P 1 P
0.5
E
0 P Q a Q
0 1 2 3 4 5 6 7 8 9
Quantity
3
2 a0
1 ln P
0 a
0 1 2 3 4 5 6 7 8 9
ln Q
ln Q 1
Quantity E
ln P a
Natural log of demand curve
log of pricelnP
1.5
1
0.5
0
0 0.5 1 1.5 2 2.5
log of quantity, lnQ
pendent
ar case:
pendent
linear case: