1
Q
What is the Formula for Price Elasticity of Demand?
A
PED = %change in Quantity Demanded / %change in price
2
Q
What is the Formula for Income Elasticity of Demand?
A
IED = %change in Quantity Demanded / % change in income
3
Q
What is the Formula for Cross Price Elasticity of Demand?
A
XED = % change in quantity demanded of X / % change in price of Y
4
Q
What is the Formula for Price Elasticity of Supply?
A
PES = % change in Quantity Suppled / % Change in Price
Microeconomics - Elasticity
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