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Description
Flashcards by gracewilkin97, updated more than 1 year ago
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Created by gracewilkin97
over 10 years ago
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| Question | Answer |
| definition: PED | the responsiveness of the quantity demended to a change of the product |
| definition: XED | responsiveness of demand for product x to a change in price of product y |
| definition: YED | the respobsiveness of demand to a change in income |
| definition: PES | the responsiveness of quntity supplied to a change in price of the product |
| PED equation | % change QD % change P |
| XED equation | % change QD product A % change P product B |
| YED equation | % change QD % change I |
| PES equation | % change QS % change P |
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