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Microeconomics - Elasticity > Elasticity Formulas > Flashcards

Elasticity Formulas Flashcards

1
Q

What is the Formula for Price Elasticity of Demand?

A

PED = %change in Quantity Demanded / %change in price

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2
Q

What is the Formula for Income Elasticity of Demand?

A

IED = %change in Quantity Demanded / % change in income

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3
Q

What is the Formula for Cross Price Elasticity of Demand?

A

XED = % change in quantity demanded of X / % change in price of Y

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4
Q

What is the Formula for Price Elasticity of Supply?

A

PES = % change in Quantity Suppled / % Change in Price

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Microeconomics - Elasticity (5 decks)

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