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The 4 elasticities
Description of the four types of elasticity
Question | Answer |
---|---|
PED measures the percentage change in the quantity DEMANDED for one good caused by the percentage change in the __ __ __ | PRICE OF THAT GOOD |
PES measures the percentage change in the quantity SUPPLIED for one good caused by the percentage change in the __ __ __ | PRICE OF THAT GOOD |
CED measures the percentage change in the quantity DEMANDED for one good caused by the percentage change in the __ __ __ | PRICE OF OTHER GOOD |
YED measures the percentage change in the quantity DEMANDED for one good caused by the percentage change in the ________ | INCOME |
PED measures the percentage change in the quantity ______ for one good caused by the percentage change in the PRICE OF THAT GOOD | DEMANDED |
PES measures the percentage change in the quantity ______ for one good caused by the percentage change in the PRICE OF THAT GOOD | SUPPLIED |
CED measures the percentage change in the quantity _______ for one good caused by the percentage change in the PRICE OF OTHER GOOD | DEMANDED |
YED measures the percentage change in the quantity _______ for one good caused by the percentage change in the INCOME | DEMANDED |
PED measures __ __ __ quantity DEMANDED for one good caused by __ __ __ PRICE OF THAT GOOD | the percentage change in the |
PED measures the percentage change in the __ __ __ the percentage change in the PRICE OF THAT GOOD | quantity DEMANDED for one good caused by |
PES measures __ __ __ quantity SUPPLIED for one good caused by __ __ __ PRICE OF THAT GOOD | the percentage change in the |
PES measures the percentage change in the __ __ __ the percentage change in the PRICE OF THAT GOOD | quantity SUPPLIED for one good caused by |
CED measures __ __ __ quantity DEMANDED for one good caused by __ __ __ PRICE OF OTHER GOOD | the percentage change in the |
CED measures the percentage change in the __ __ __ the percentage change in the PRICE OF OTHER GOOD | quantity DEMANDED for one good caused by |
YED measure __ __ __ quantity DEMANDED for one good caused by __ __ __ INCOME | the percentage change in the |
YED measures the percentage change in the __ __ __ the percentage change in the INCOME | quantity DEMANDED for one good caused by |
CED is ______ Elasticity of Demand | CROSS |
PED is ______ Elasticity of Demand | PRICE |
YED is ______ Elasticity of Demand | INCOME |
PES is Price Elasticity of ______ | SUPPLY |