ECON MICRO
ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 5, Problem 4.9P

(Other Elasticity Measures) Complete each of the following sentences:

a. The income elasticity of demand measures, for a given price, the __________ in quantity demanded divided by the __________ income from which it resulted.

b. If a decrease in the price of one good causes a decrease in demand for another good, the two goods are __________.

c. If the value of the cross-price elasticity of demand between two goods is approximately zero, they are considered __________.

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Elasticity of Demand- Micro Topic 2.3; Author: Jacob Clifford;https://www.youtube.com/watch?v=HHcblIxiAAk;License: Standard YouTube License, CC-BY