Equations - Demand, Supply and Market Equilibrium.

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What is the equation for cross price elasticity?
% change in Qd / % change in price of related good.
1 of 5
What is the equation for price elasticity of demand?
% change in quantity demanded / % change in price
2 of 5
What is the equation for percentage change?
(The change / the old value) x 100
3 of 5
What is the equation for measuring elasticity?
% change in Qd / % change in P
4 of 5
What is the equation for income elasticity?
% change in Qd / % change in income
5 of 5

Other cards in this set

Card 2

Front

What is the equation for price elasticity of demand?

Back

% change in quantity demanded / % change in price

Card 3

Front

What is the equation for percentage change?

Back

Preview of the front of card 3

Card 4

Front

What is the equation for measuring elasticity?

Back

Preview of the front of card 4

Card 5

Front

What is the equation for income elasticity?

Back

Preview of the front of card 5

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