A correct formula (dropping all minus signs) for the calculation of the elasticity of demand between point Q1, P1 and point Q2, P2 is
a. [(P2 ? P1)/(P2 + P1)]/[(Q2 ? Q1)/(Q2 + Q1)].
b. [(P2 ? P1)/P1]/[(Q2 ? Q1)/Q1].
c. [(Q2 ? Q1)/(Q2 + Q1)]/[(P2 ? P1)/(P2 + P1)].
d. [(Q2 ? Q1)/Q2)]/[(P2 ? P1)/P2].
c
Economics
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a. True b. False
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A city street is
a. always a public good, whether or not it is congested. b. a public good when it is congested, but it is a common resource when it is not congested. c. a common resource when it is congested, but it is a public good when it is not congested. d. always a common resource, whether or not it is congested.
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