YED
- Created by: Sin Heng
- Created on: 12-12-19 09:51
Fullscreen
1. Define YED
It is the responsiveness of the quantity demanded of a good to a change in income of consumers
2. If the YED >1, are consumers responsive or irresponsive?
Responsive
3. How do you calculate YED?
percentage change in quantity demanded of a good / percentage change in income
…
Comments
No comments have yet been made