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micro economics > formulas micro economics > Flashcards

formulas micro economics Flashcards

1
Q

price elasticity of supply

A

PES= % change in quantity supplied/ % change in price

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2
Q

cross elasticity of demand

A

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

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3
Q

income elasticity of demand

A

YED=% change in quantity demanded / % change in income

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4
Q

price elasticity of demand

A

PED= % change in quantity demanded / % change in price

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micro economics (8 decks)

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