Theme 1 Formulas Flashcards
(5 cards)
1
Q
Market share =
A
total sales of the businness
——————————————————————— x 100
total sales in the market
2
Q
Price elasticity of demand =
A
% change in price
3
Q
Income elasticity of demand =
A
% change in income
4
Q
cost plus pricing =
A
unit cost + mark up
5
Q
Unit cost =
A
number of units
