Add your answer here.
Check out some similar questions!
Income elasticity [ 1 Answers ]
If there has been a 10 percent increase in consumer income between two periods, what was the percentage change in the demand for tobacco products and flour? Where income elasticity for these products is given as .50 and -0.36 respectively. How do I use this in the income elasticity demand...
Cross elasticity [ 1 Answers ]
Pioneer, a major competitor, sells 50-inch Plasma TV for MSRP base price of $3,689, and assume that before Sony’s proposed price cut, 180,000 units of Pioneer 50-inch Plasma TV were sold in a week. If the cross price elasticity of demand between Sony 46-inch LCD TV and Pioneer 50-inch Plasma TV is...
View more Economics questions Search