Income Elasticity of Demand
Essay specific features
May 2, 2016
No of pages / words:
2 / 293
Rating of current essay:
The higher the income elasticity, the more sensitive demand for a good is to income changes. Very high income elasticity suggests that when a consumer's income goes up, consumers will buy a great deal more of that good. Very low price elasticity implies just the opposite. There are factors that affect price elasticity also:
1) Availability of substitutes, the more possible substitutes, the greater the elasticity...
displayed 300 characters
Order custom writing paper now!
- Your research paper is written
by certified writers
- Your requirements and targets are
- You are able to control the progress
of your writing assignment
- You get a chance to become an
Get a price guote
Very low price elasticity implies just the opposite. There are factors that affect price elasticity also:
1) Availability of substitutes, the more possible substitutes, the greater the elasticity.
2) Degree of necessity.
3) Proportions of the purchaser's budget consumed by the item, products that consume larger portions of a purchaser's budget tend to have a greater elasticity...
displayed next 300 characters
General issues of this essay:
1 pages, 243 words
2 pages, 283 words
2 pages, 293 words
1 pages, 122 words
3 pages, 717 words
4 pages, 905 words
2 pages, 413 words