Econowaugh AP

Output & Costs This section has quite a few moving parts and therefore is best studied in sections. Lets start with costs. ...

YED - Income Elasticity YED -  is the responsiveness of the Qd, of a good, to the change in the incomes, (Y) of people demanding the go...

XED Cross Price Elasticity - Substitutes XED -  responsiveness of the Qd of a good (Good A) to a change in the price of another good (G...

XED (Cross Price Elasticity) XED - the responsiveness of the Qd of a good (Good A) to a change in the price of another good, (Good B)...

Wages for employment vs. wages as incentives. Thanks, Charles Obviously the answer is (B) an increase in wages in the automo...