CH 4 Flashcards
FORMULA: PRICE ELASTICITY OF DEMAND 1/3
Initial P / Initial Q * AbsVal of 1/SLOPE
FORMULA: PRICE ELASTICITY OF DEMAND
?/? * 1/SLOPE
P/Q
FORMULA: PRICE ELASTICITY OF DEMAND
P/Q ? 1/SLOPE
*
FORMULA: PRICE ELASTICITY OF DEMAND
P/Q * ?/?
1/SLOPE
FORMULA: SLOPE
ChangeIn P / ChangeIn Q
FORMULA: SLOPE
? / ChangeIn Q
ChangeIn P
FORMULA: SLOPE
ChangeIn P ? ChangeIn Q
/
FORMULA: SLOPE
ChangeIn P / ?
ChangeIn Q
FORMULA: % CHANGE
(NEW - OLD / OLD) * 100
FORMULA: % CHANGE
(? - OLD / OLD) * 100
NEW
FORMULA: % CHANGE
(NEW ? OLD / OLD) * 100
-
FORMULA: % CHANGE
(NEW - ? / OLD) * 100
OLD
FORMULA: % CHANGE
(NEW - OLD ? OLD) * 100
/
FORMULA: % CHANGE
(NEW - OLD / ?) * 100
OLD
FORMULA: % CHANGE
(NEW - OLD / OLD) ? 100
*
FORMULA: % CHANGE
(NEW - OLD / OLD) * ?
100
FORMULA: CROSS-PRICE ELASTICITY OF DEMAND
%ChangeQofProduct2 / %ChangePofProduct1
FORMULA: PRICE ELASTICITY OF DEMAND 2/3
AbsVal of
%ChangeInQD / %ChangeInP
FORMULA: PRICE ELASTICITY OF DEMAND 3/3
AbsVal of
ChangeInQ / Q)(P / ChangeIn P)
—>
(P / Q)(ChangeIn Q)(ChangeIn P)
—>
P / Q * AbsVal of 1/SLOPE
FORMULA: PRICE ELASTICITY OF DEMAND
%ChangeInQd2 / %ChangeIn P1
