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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Cross-Price Elasticity And Income Elasticity Of Demand: Are Your Students Confused?, Philip E. Graves, Robert L. Sexton
Cross-Price Elasticity And Income Elasticity Of Demand: Are Your Students Confused?, Philip E. Graves, Robert L. Sexton
Robert L Sexton
The 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 And Income Elasticity Of Demand: Are Your Students Confused?, Philip E. Graves, Robert L. Sexton
Cross-Price Elasticity And Income Elasticity Of Demand: Are Your Students Confused?, Philip E. Graves, Robert L. Sexton
Robert L Sexton
The 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.