What economic information does the income elasticity of demand provide? How does the shape of the violated in each of these cases? perfect substitutes / perfect compliments. Which of the assumptions of consumer rationality get i) Draw an appropriate diagram indicating this situation.

/in /by

What economic information does the income elasticity of demand provide? How does the shape of the
violated in each of these cases?
perfect substitutes / perfect compliments. Which of the assumptions of consumer rationality get
i) Draw an appropriate diagram indicating this situation.

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GIVEN BY THE EQUATIONS (1) QD = 4 - P (2) QS = -2+P A) WHAT IS THE PRICE ELASTICITY OF THE DEMAND CURVE AT THE POINT OF EQUILIBRIUM? B) WHAT IS THE PRICE ELASTICITY OF THE SUPPLY CURVE AT THE POINT OF EQUILIBRIUM?
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