1.2.4/1.2.5 PED & YED Flashcards by javin bharakhada | Brainscape

Q

what is the calculation of PED?

A

%change in quantity demanded/%change in price

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Q

what are the factors which affect PED?

A

substitute availability, price, income levels, time period

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Q

What is the calculation of YED?

A

%change in quantity demanded/% change in income

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