Price Elasticity of demand Work out the PED

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Price Elasticity of demand Work out the PED for each, and comment on your

Price Elasticity of demand Work out the PED for each, and comment on your result: • The price of DVDs today is £ 200, and the quantity demanded is 4 m. Next year the price falls to £ 180 and the quantity demanded rises to 6 m. • The price of Pens today is £ 1, and the quantity demanded is 1 m. Next year the price rises to £ 1. 10 and the quantity demanded falls to 950, 000.

Group Activity and Homework 2 • Income and Cross Elasticity of Demand (Эластичность по

Group Activity and Homework 2 • Income and Cross Elasticity of Demand (Эластичность по доходу и перекрестная эластичность) YED/XED is: The product is: Give one example XED = 0 YED = + 10. 0 YED = - 0. 2 XED = + ∞ YED = + 0. 3 XED = + 12. 0 YED = - 15. 0

Variants for Homework 2… 1. A normal good with an inelastic response 2. A

Variants for Homework 2… 1. A normal good with an inelastic response 2. A normal good with an elastic response 3. An inferior good with an inelastic response 4. An inferior good with an elastic response 5. A close substitute 6. Not a close substitute 7. A close complement 8. Not a close compliment 9. A perfect substitute 10. A perfect complement 11. Goods are not related 1. Нормальный, неэластичный 2. Нормальный, эластичный 3. Худшие, неэластичные 4. 5. 6. 7. 8. 9. 10. 11. Худшие, эластичные Близкие заменители Не близкие заменители Близкие дополняющие Не близкие дополняющие Совершенные заменители Совершенные дополняющие Товары не связанные http: //www. economicsonline. co. uk/Questions/YED. html