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  2. Price elasticity of demand - Wikipedia

    en.wikipedia.org/wiki/Price_elasticity_of_demand

    When the price elasticity of demand is unit (or unitary) elastic (E d = −1), the percentage change in quantity demanded is equal to that in price, so a change in price will not affect total revenue. When the price elasticity of demand is relatively elastic (−∞ < E d < −1), the percentage change in quantity demanded is greater than that ...

  3. Elasticity (economics) - Wikipedia

    en.wikipedia.org/wiki/Elasticity_(economics)

    Formula for cross-price elasticity. Cross-price elasticity of demand (or cross elasticity of demand) measures the sensitivity between the quantity demanded in one good when there is a change in the price of another good. [17] As a common elasticity, it follows a similar formula to price elasticity of demand.

  4. Law of demand - Wikipedia

    en.wikipedia.org/wiki/Law_of_demand

    The Cross elasticity of demand, also commonly referred to as the Cross-price elasticity of demand, allows companies to establish competitive prices against substitute goods and complementary goods. The metric figure produced by the equation thus determines the strength of both the relationship and competition between the two goods.

  5. Marshall–Lerner condition - Wikipedia

    en.wikipedia.org/wiki/Marshall–Lerner_condition

    Note that a common source of confusion is the price used in the elasticities, which determines whether an elasticity is positive or negative. Demand elasticities are ordinarily the elasticity of demand for a good with respect to the price of the good, and they ordinarily are negative numbers.

  6. Price elasticity of supply - Wikipedia

    en.wikipedia.org/wiki/Price_elasticity_of_supply

    The price elasticity of supply (PES or E s) is commonly known as “a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.” Price elasticity of supply, in application, is the percentage change of the quantity supplied resulting from a 1% change in price.

  7. Elasticity - Wikipedia

    en.wikipedia.org/wiki/Elasticity

    Elasticity (economics), a general term for a ratio of change. For more specific economic forms of elasticity, see: Cross elasticity of demand; Elasticity of substitution; Frisch elasticity of labor supply; Income elasticity of demand; Output elasticity; Price elasticity of demand; Price elasticity of supply; Yield elasticity of bond value

  8. IS–LM model - Wikipedia

    en.wikipedia.org/wiki/IS–LM_model

    Starting from one point on the aggregate demand curve, at a particular price level and a quantity of aggregate demand implied by the IS–LM model for that price level, if one considers a higher potential price level, in the IS–LM model the real money supply M/P will be lower and hence the LM curve will be shifted higher, leading to lower ...

  9. Lerner index - Wikipedia

    en.wikipedia.org/wiki/Lerner_Index

    the price elasticity of demand for goods produced by the company — the smaller the fluctuations in demand under the influence of prices, the smaller the elasticity and the greater the value of L; the interaction with competitors — the more of them and the larger their size, the less the company's ability to maximize profits and the smaller ...