Tiêu đề Important graphs and formulas - PE (1).docx ✅

Important graphs and formulas:
Price elasticity of demand: how much the quantity demand responds to a change in price. Demand is elastic (>1): quantity demanded responds substaintially to changes in price. Demand is inelastic (<1): quantity demanded responds only slightly to changes in price. Midpoint method: Price elasticity and tax incidences: