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How to calculate point price elasticity of demand

This video goes over the method of calculating point price elasticity of demand and gives a few examples. Point price elasticity works by finding the exact elasticity measure at a specific point on the demand curve (for the case of price elasticity of demand). In order to do this calculation you need to know a little bit about calculus, namely how to calculate a derivative. But don't worry, it isn't that difficult and the video will show you how to do it. Elasticity measures focus on finding the responsiveness of one variable to another. It is a classic example of an applied derivative (or a derivative in action). More information on this topic can be found at http://www.freeeconhelp.com/2012/04/h...

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