tag:blogger.com,1999:blog-5304409.post3467765002221519876..comments2019-09-07T20:20:40.320-07:00Comments on Amit's Thoughts: The Price of GasAmithttp://www.blogger.com/profile/12159325271882018300noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5304409.post-36626703805019950002007-10-05T20:52:00.000-07:002007-10-05T20:52:00.000-07:00Yes, you're right; I've accidentally included the ...Yes, you're right; I've accidentally included the amount my purchase costs me, although as you point out, it's essentially 0.Amithttps://www.blogger.com/profile/12159325271882018300noreply@blogger.comtag:blogger.com,1999:blog-5304409.post-2976464923487059242007-10-05T20:26:00.000-07:002007-10-05T20:26:00.000-07:00Isn't the value that you really want to find Delta...Isn't the value that you really want to find Delta(P) * (Q - Delta(Q))? In that case, the answer is<BR/><BR/>D * (1/e - Delta(P)/P). <BR/><BR/>For gasoline, Delta(P)/P probably tends to 0 in any case and so this is a good enough approximation.Anwisnoreply@blogger.com