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Need help with PED,YED and XED?

How can i tell when its inelastic or elastic for when its YED,PED and XED?

Im still confused by the whole + and - signs aswell do those highlight whether something is positive or negative YED or PED or XED?

Reply 1

_Fergo

Original post by scrawlx101

The PED is almost always negative, except in very unusual circumstances. It is inelastic if the value lies between 0 and -1 and it's elastic if it lies between -1 and -infinite.
The YED shows whether a good is a normal good or an inferior good. Normal if the value is positive, inferior if the value is negative.
The XED shows whether the two products are complements or substitutes. A positive value shows that they are substitudes, while a negative shows that they are complements.

Not sure if that's what you're asking though.

(edited 9 years ago)

Reply 2

scrawlx101

thanks your a lifesaver