Cross-Price Elasticity and Income Elasticity of Demand: Are Your Students Confused?The American Economist (2009)
AbstractThe authors demonstrate that most textbooks are ambiguous at best in their treatment of cross-price elasticity and income elasticity of demand. There is also no discussion of what initiates a price increase in discussions of substitutes and complements in the textbooks examined. The authors offer a remedy for these deficiencies.
- Cross-price elasticity,
- Income elasticity,
- Economic education
Citation InformationPHILIP E GRAVES and ROBERT L SEXTON. "Cross-Price Elasticity and Income Elasticity of Demand: Are Your Students Confused?" The American Economist Vol. 54 Iss. no. 2 (2009)
Available at: http://works.bepress.com/rsexton/29/