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business theme 1 > equations > Flashcards

equations Flashcards

1
Q

calculate percentage change

A

(new value - old value) / old value x 100 = %change

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2
Q

calculate PED

A

price elasticity of demand
% change of quantity demanded / % change in price x 100 = PED

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3
Q

calculate YED

A

income elasticity of demand
% change in quantity demanded / % change in income x 100 = YED

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business theme 1 (6 decks)

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