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Economics Lecture Five (view source)

Revision as of 17:27, March 20, 2013

5 bytes added ,  17:27, March 20, 2013
→‎Income Elasticity (review)
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Mathematically, income elasticity is as follows:
 
Mathematically, income elasticity is as follows:
   −
:<math>Yed = \frac{% \Delta (Quantity\:demanded\:of\:good)}{% \Delta (Change\:in\:income\:of\:buyers\:of\:good)}</math>
+
:<math>Yed = \frac{% \Delta (\mbox{Quantity demanded of good})}{% \Delta (\mbox{Change in income of buyers of good})}</math>
    
=== Supply Elasticity ===
 
=== Supply Elasticity ===
Aschlafly
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