Other Elasticities
AP Microeconomics · Flashcards
AP MICROECONOMICS · FLASHCARDS
Card 1
of 40
0 got it
0 to review
Current
Got it
Still learning
Not seen
QUESTION
Calculate income elasticity if demand decreases 5% as income increases 10%.
QUESTION
State the relationship between two goods when cross-price elasticity is positive.
QUESTION
Identify the type of elasticity:
E
i
=
1.2
E_{i} = 1.2
E
i
=
1.2
Tap to flip before you grade
ANSWER
Income elasticity indicating a luxury good. Greater than 1 indicates luxury good classification.
Swipe → got it · swipe ← still learning
Got it
Still learning
Flip Card
Previous card
Next card