Year 12s: what will be the first way you research your future options? >>

Year 12s: what will be the first way you research your future options? >>

Year 12s: what will be the first way you research your future options? >>

Price Elasticty

Okay so the formula for price elasticity of demand, is:

% CHANGE IN QUANTITY DEMANDED/ % CHANGE IN PRICE

So am I correct to say, if the question asks to calculate PED ^ and I don't know the % changes, to use this formula:

(QUANTITY NEW - QUANTITY OLD) / OLD TIMED BY 100

APPLOGIES IF THIS IS CONFUSING, LET ME KNOW AND I'LL RE WORD MYSELF

Sorry you've not had any responses about this. :frown:

:frown:

Are you sure you've posted in the right place? :smile:

:smile:

Here's a link to our subject forum which should help get you more responses if you post there. :redface:

:redface:

You can also find the Exam Thread list for A-levels here and GCSE here. :dumbells:

:dumbells:

Just quoting in Puddles the Monkey so she can move the thread if needed :h:

:h:

Spoiler

Original post by GreenNinjaa

Okay so the formula for price elasticity of demand, is:

% CHANGE IN QUANTITY DEMANDED/ % CHANGE IN PRICE

So am I correct to say, if the question asks to calculate PED ^ and I don't know the % changes, to use this formula:

(QUANTITY NEW - QUANTITY OLD) / OLD TIMED BY 100

APPLOGIES IF THIS IS CONFUSING, LET ME KNOW AND I'LL RE WORD MYSELF

Correct

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