equations Flashcards
1
Q
% change
A
Different/ original x 100
2
Q
Market share
A
Sales of a firm/ Total sales in a market
3
Q
Price elasticity of demand
A
% change in QD/ % change in price
4
Q
Income elasticity of demand
A
% change in QD/% change in income
5
Q
Total variable cost
A
n.o of units sold x VC per unit
6
Q
Total added value
A
Sales revenue- Cost of bought in goods and services
7
Q
Market size
A
Quantity goods or services produced/period of time
8
Q
Market growth
A
New market size- Old market size/old market size x 100
9
Q
% change in market size
A
Year 1-Year 0/Year 0
