Equations Flashcards
0
Q
Price Elasticity of demand =
A
% change in demand /
% change in price
1
Q
% change =
A
Difference / original
X 100
2
Q
Income elasticity of demand =
A
% change in demand /
% change in income
3
Q
Cross price elasticity of demand =
A
% change in demand of A /
% change in price of B
4
Q
Price elasticity of supply =
A
% change in supply /
% change in price
