Notes
Untitled
Content of the notes (2)
Page 1
Income Elasticity of Demand
Price Elasticity of Demand Measures the responsiveness of quantity demanded to a change in price. If the coefficient is greater than 1, it is an elastic good. If the coefficient is less than 1, it is an inelastic good.
To calculate PED, we can use one of the following calculations:
Mid-Point Method
Page 2
Information
- Description
- Note on Untitled, created by Emma van Schalkwyk on 31/03/2025.
- Created by
- Emma van Schalkwyk · Mar 2025
- Updated
- Mar 31, 2025
- Views
- 0
- Rating