Demand
AP Microeconomics · Flashcards
AP MICROECONOMICS · FLASHCARDS
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QUESTION
What does a positive cross-price elasticity indicate?
QUESTION
What does a negative income elasticity indicate?
QUESTION
What is the formula for calculating percentage change?
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\frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100
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. Standard formula for elasticity calculations.
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