Equations - Demand, Supply and Market Equilibrium.
- Created by: maddisheppard
- Created on: 27-11-13 12:46
Other questions in this quiz
2. What is the equation for measuring elasticity?
- (% change in Qd / % change in P) x100
- % change in Qd / % change in P
- (% change in Qd / % change in supply) x 100
- % change in Qd / % change in supply
3. What is the equation for cross price elasticity?
- % change in output / % change in price of related good
- % change in Qd / % change in price of related good.
- (% change in price of related good / output) x 100
- (% change in Qd / % change in price of related good) x100
4. What is the equation for percentage change?
- The old value / the new value
- (The old value / the new value) x 100
- (The change / the old value) x 100
- The change / the old value
5. What is the equation for price elasticity of demand?
- (% change in quantity demanded / % change in price) x 100
- % change in price / the old price
- % change in quantity demanded / % change in price
- ( % change in price /the old price) x 100
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