Cross Price Elasticity and Income Elasticity of Demand: Are Your Students Confused?

Philip Graves () and Robert L. Sexton

The American Economist, 2009, vol. 54, issue 2, 107-110

Abstract: The authors demonstrate that most textbooks are ambiguous at best in their treatment of cross price 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.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:54:y:2009:i:2:p:107-110

DOI: 10.1177/056943450905400211

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