Elasticity Demand Flashcards by Archie Mason | Brainscape

Q

Price elastic

A

More than one PED

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Price inelastic

A

Less than 1 PED

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Price elasticity of demand equation

A

%change in quantity demanded/ %change in price

How well did you know this?

1

Not at all

2

3

4

5

Perfectly