Typically, the elasticity expression shown to the right is used in more advanced courses, we just mention it here for completeness. If you don't know any multivariate calculus, feel free to skip this.
If we can write down a specific differentiable function that
defines how Q and V are related, we can then compute the point elasticity of Q with respect to V, as shown to the right. This is still in keeping with our idea
of a ratio of percentages, but the distance between the before
and after quantities and values is so small that both are essentially
the same point, hence the name point elasticity.
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