Ib Economics Hl Formula Booklet 'link' 〈DELUXE〉

Because supply and demand curves on exams are linear, consumer and producer surpluses form triangles. Use the standard area formula:

PED=%Δ Quantity Demanded%Δ PricePED equals the fraction with numerator % cap delta Quantity Demanded and denominator % cap delta Price end-fraction ib economics hl formula booklet

Students often calculate absolute change ( Because supply and demand curves on exams are