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Income elastic |
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Income elasticHaving an income elasticity greater than one.Similar MatchesIncome inelasticIncome inelasticHaving an income elasticity less than one. Cross elasticityCross elasticity1. An elasticity that has been ignored by a student in a problem set. 2. The elasticity of supply or demand for one good or service with respect to the price of another. Unit elasticUnit elasticHaving an elasticity equal to one. For a price elasticity of demand, this means that expenditure remains constant as price changes. For an income elasticity it means that expenditure share is constant. Homothetic preferences imply unit income elasticities. Contrasts with elastic and inelastic. Point elasticityPoint elasticitySee elasticity Arc elasticityArc elasticitySee elasticity Further SuggestionsElasticity of demand for importsElastic offer curve Elasticity of demand for exports Price inelastic Income elasticity Price elasticities Supply elasticity Elasticity Import elasticity Import demand elasticity Perfectly elastic Elasticities approach Armington elasticity Inelastic Inelastic offer curve Price elasticity Demand elasticity Constant elasticity of substitution function Price elastic Elasticity of substitution Elastic |
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