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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1636 |
Essay's paper body
It yields different values for Ed depending on whether Qd and Pd are the original or final values for quantity and price. This formula is usually valid either way as long as you are consistent and choose only original values or only final values.
Or, using the differential calculus form:
This can be rewritten in the form:
Income elasticity of demand
In economics, the income elasticity of demand measures the responsiveness of the quantity demanded of a good to the change in the income of the people demanding the good...
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It yields different values for Ed depending on whether Qd and Pd are the original or final values for quantity and price. This formula is usually valid either way as long as you are consistent and choose only original values or only final values.
Or, using the differential calculus form:
This can be rewritten in the form:
Income elasticity of demand
In economics, the income elasticity of demand measures the responsiveness of the quantity demanded of a good to the change in the income of the people demanding the good...
Essay fragment
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