1-23-09 - Dental: EXACTLY 1 Clothing: 0.51 Food: 0.14...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Microeconomics – Class Notes – 1/23/09 You NEVER multiply the elasticity by 100%
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
EXAMPLE INCOME ELASTICITIES: Airline travel: Income elasticity is 5.82 (a luxury good) Movies: Income elasticity is 3.41
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Dental: EXACTLY 1 Clothing: 0.51 Food: 0.14 Cross-price elasticity Tells us if the good is either a substitute good or complementary good...
View Full Document

This note was uploaded on 06/03/2009 for the course ECON 200 taught by Professor Nonnenmacher during the Spring '09 term at Allegheny.

Page1 / 3

1-23-09 - Dental: EXACTLY 1 Clothing: 0.51 Food: 0.14...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online