Assertion: price elasticity | /r/CapableOf | demand an economics concept
Facets:
value: of good a
type: OTHER
Source sentences:
text: Glossary Cross-price elasticity of demand the percentage change in the quantity demanded of good A as a result of a percentage change in price of good B Elasticity an economics concept that measures responsiveness of one variable to changes in another variable Income elasticity of demand the percentage change in quantity demanded of a good or service as a result of a percentage change in income Own-price elasticity of demand percentage change in the quantity demanded of a good or service divided the percentage change in price Mid-point Method Involves multiplying the inverse of the slope by the values of a single point.