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  2. Elasticity (economics) - Wikipedia

    en.wikipedia.org/wiki/Elasticity_(economics)

    The concept of price elasticity was first cited in an informal form in the book Principles of Economics published by the author Alfred Marshall in 1890. [3] Subsequently, a major study of the price elasticity of supply and the price elasticity of demand for US products was undertaken by Joshua Levy and Trevor Pollock in the late 1960s. [4]

  3. Price elasticity of demand - Wikipedia

    en.wikipedia.org/wiki/Price_elasticity_of_demand

    The above measure of elasticity is sometimes referred to as the own-price elasticity of demand for a good, i.e., the elasticity of demand with respect to the good's own price, in order to distinguish it from the elasticity of demand for that good with respect to the change in the price of some other good, i.e., an independent, complementary, or ...

  4. Cross elasticity of demand - Wikipedia

    en.wikipedia.org/wiki/Cross_elasticity_of_demand

    In economics, the cross (or cross-price) elasticity of demand (XED) measures the effect of changes in the price of one good on the quantity demanded of another good. This reflects the fact that the quantity demanded of good is dependent on not only its own price (price elasticity of demand) but also the price of other "related" good.

  5. Slutsky equation - Wikipedia

    en.wikipedia.org/wiki/Slutsky_equation

    where ε p is the (uncompensated) price elasticity, ε p h is the compensated price elasticity, ε w,i the income elasticity of good i, and b j the budget share of good j. Overall, in simple words, the Slutsky equation states the total change in demand consists of an income effect and a substitution effect and both effects collectively must ...

  6. Income elasticity of demand - Wikipedia

    en.wikipedia.org/wiki/Income_elasticity_of_demand

    If the elasticity is negative, such as margarine's -.20 (from the "Selected income elasticities" section of this article), then it is obvious that margarine's share of the consumer's budget will fall if his income rises 10%. If the elasticity is tobacco's +.42, however, an income increase of 10% generates a spending increase of 4.2%, so tobacco ...

  7. Price elasticity of supply - Wikipedia

    en.wikipedia.org/wiki/Price_elasticity_of_supply

    For example, if a product costs $1 and then increases to $1.10 the increase in price is 10% and therefore the change in supply will be less than 10%. [8] Unit Elastic supply: This is when the E s formula equals to one, meaning that quantity supplied and price change by the same percentage. Using the previous example to show unit elasticity ...

  8. Download, install, or uninstall AOL Desktop Gold - AOL Help

    help.aol.com/articles/aol-desktop-downloading...

    Learn how to download and install or uninstall the Desktop Gold software and if your computer meets the system requirements.

  9. Microeconomics - Wikipedia

    en.wikipedia.org/wiki/Microeconomics

    Microeconomics analyzes the market mechanisms that enable buyers and sellers to establish relative prices among goods and services. Shown is a marketplace in Delhi. Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce ...