Created by gracewilkin97
almost 11 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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