Elasticity values Flashcards
1
Q
PED: unitary elastic
A
PED = 1
2
Q
PED: Perfectly elastic
A
PED = Infinite
3
Q
PED: Relatively elastic
A
PED > 1
4
Q
PED: Perfectly inelastic
A
PED = 0
5
Q
PED: Relativity inelastic
A
0 < PED < 1
6
Q
YED: Inferior good
A
YED < 0
7
Q
YED: Normal good
A
YED < 1
8
Q
YED: Relatively elastic
A
YED > 1
9
Q
YED: Relatively inelastic
A
YED < 1
10
Q
XED: Substitutes
A
XED: +
11
Q
XED: Complementary
A
XED: -
12
Q
XED: Unrelated goods
A
XED: = 0
13
Q
PES: Relatively elastic
A
PES > 1
14
Q
PES: Perfectly elastic
A
PES = infinite
15
Q
PES: Relatively inelastic
A
0 < PES < 1
16
Q
PES: Perfectly inelastic
A
PES = 0
