Question: Answer: Elasticity can be defined as the percentage change in The formula for solving for a Linear Aggregate Demand, demand for a 1% change in decision attribute. For linear according to Sinha & Labi ( 2007), is as follows: aggregate demand, what is the mathematical representation/formula for this statement? You must define the parameters you choose to use for this answer. x ov ex(V )=7 V ax Where: x = mode type, trip purpose, time of day, trip length, trip- maker characteristics, existing level of factor V = the point elasticity of travel demand