Elasticity
- 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
- PED
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