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Income Elasticity of Demand (YED)

  • A measure of the responsiveness of demand to changes in income, involving demand curve shifts

  • YED: percentage change in Qd / percentage change in income

2 kinds of information from YED

截圖 2020-09-04 上午10.45.56.png
截圖 2020-09-04 上午10.46.02.png

YED interpreters

截圖 2020-09-04 上午10.46.09.png

*YED > 1 & < 1 because a relatively greater or relatively smaller rise in percentage change in Qd

*The diagrams / definitions in this website is extracted / Notes are summarized from "Economics for the IB Diploma, 2nd Edition" authored by Ellie Tragakes.

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This site is created in 2020, owned by Rex Hsu 徐唯耀. 

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