Elasticity

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  • Created by: dpsoutter
  • Created on: 28-04-14 09:45
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  • Elasticity
    • PED
      • % change in Q  / % change in price
    • PES
      • % change in Q  supplied / % change in price
    • XPED
      • % change in Q for good A / % change in price of good B
    • YED
      • % change in Q  / % change in income
    • Measurements
      • 0 = Perfectly Inelastic
      • Between 0 & 1 =  Inelastic
      • 1 = Unitary
      • Infinity = Perfectly Elastic
      • Above 1 = Elastic

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