Question
The income elasticities of demand for movies, dental services, and clothing have been estimated to be +3.4, +1, and + .5, respectively. Interpret these coefficients.
The income elasticities of demand for movies, dental services, and clothing have been estimated to be +3.4, +1, and + .5, respectively. Interpret these coefficients. What does it mean if an income-elasticity coefficient is negative?
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Economic Change In Asia Implications For Corporate Strategy And Social Responsibility
Authors: M Bruna Zolin, Bernadette Andreosso O'Callaghan, Jacques Jaussaud
1st Edition
1317286650, 9781317286653
