Rule of one-half: Difference between revisions
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imported>Nick Gardner (New page: {{subpages}} <!-- Text is transcluded from the Rule of one-half/Definition subpage-->) |
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Latest revision as of 03:39, 27 June 2010
Rule of one-half [r]: A procedure for the estimating changes in the value of consumer's surplus on the assumption of a linear relationship between supply and demand - as a result of which the estimated value of the surplus is one-half of the product of the price change and the change in the quantity purchased. [e]
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