Elasticities

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  • Elasticities
    • Price Elasticity of Demand(PED)
      • Perfectly inelastic(PED=0)
      • Inelastic(PED>0 BUT < 1)
      • Unitary(PED=1)
      • Elastic(PED>1)
      • Perfectly elastic(PED infinity)
    • Income Elasticity of Demand(YED)
      • Normal goods(+)
        • Necessities or Luxuries
      • Inferior goods(-)
        • Income of consumers
    • Cross Elasticity of Demand(XED)
      • Substitutes(+)
      • Complements(-)
      • Unrelated products(0)
    • Price Elasticity of Supply(PES)
      • Perfectly inelastic(PES=0)
      • Inelastic(PES>0 BUT < 1)
      • Unitary(PES=1)
      • Elastic(PES>1)
      • Perfectly elastic(PES infinity)

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