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Microeconomics OMAR > Micro 14 - Income elasticity of demand > Flashcards

Micro 14 - Income elasticity of demand Flashcards

1
Q

How does YED data help firms who produce luxury goods?

A
  1. Helps firms set price
  2. Produce more
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2
Q

Evaluate YED

A

Demand could change due to other factors
YED could vary from country to country

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3
Q
A
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Microeconomics OMAR (24 decks)

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