Errata
9/9 Pricing
In the lecture I wrote that the margin equals 1 over the elasticity. This is incorrect. It is actually that the percentage margin is equal to 1 over the elasticity. That is (p - c)/p = 1/e, where e is elasticity of demand.
9/9 Pricing
In the lecture I wrote that the margin equals 1 over the elasticity. This is incorrect. It is actually that the percentage margin is equal to 1 over the elasticity. That is (p - c)/p = 1/e, where e is elasticity of demand.