Income Elasticity of Demand
Автор: Jason Welker
Загружено: 2015-10-06
Просмотров: 69952
Our final lesson on elasticities will examine the responsiveness of consumers of a good to a change in their own incomes. The lesson introduces the formula for YED, gives an example of how to calculate YED for both a normal good and an inferior good and explains the different possible values of the YED coefficient.
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