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 3 years ago
suppose that demand's elasticity for cars in USA=2.5 and in UK=3
If in the next year the incomes of USA grow with 2% and in UK with 1% wht will be the effect in Qd in both countries?
 3 years ago
suppose that demand's elasticity for cars in USA=2.5 and in UK=3 If in the next year the incomes of USA grow with 2% and in UK with 1% wht will be the effect in Qd in both countries?

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sheg
 3 years ago
Best ResponseYou've already chosen the best response.1See as the income level of both the countries is increasing then people will have more money to spend that is their desire will get converted into demand ( with extra amount to spend). Thus, such people who do not possess car will purchase car and those who already possess car will try to buy cars which will be better than the car they possess.

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2my teacher did smth like dw:1322932310482:dw i didn't get...do these show the increase of Qd of USA and UK?

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1and income elasticity of demand

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1see this equation is for income elasticity of demand..........i was telling it u in words......... If the demand decreases for cars it means that it is inferior good...........and if it demand increases it means that it is a superior good

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1\[Income Elasticity of Demand = \frac{percent chage i n quantity demanded}{percent change i n income level}\]

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1from this u can find out the quantity demanded

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1i was actually trying to explain the relation between income and demand

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2Oh..............I think I got it.....Thanks ^_^

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1so they are directly proportional to each other as the income increases the demand of inferior goods goes down and as income increases the demand of superior goods increases

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.21st semester ,1st year X)

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2yes...i like it a lot :)

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1yeah very interesting subject i like macroeconomics not microeconomics

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2just finished micro will start macro on wednesday :) wht r u studying?

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2oh ok...wht have u studied then?

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1Same thing which u r studying right now

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2business administration?

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1what specialization u want to opt

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2Idk....I think i got some time to think abt it...I've heard accounting is good...idk though

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1if u want to opt for finance then it is good because for finance u need a strong quant base

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1from my reply it must be clear^^^^^^^^^^^^^^^^^

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2aha i got it ^^......hmmmmmm.....and,,,wht do u exactly do in finance?

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2Researcher??? O.o...marketing??? O.o

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2I'm sorry for my ignorance :/ but I've heard research only in marketing till now :/ sorry....wht do u search for??

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2OMG!!! I feel like I'm the most ignorant person in the whole world :(:(:( So we can talk at least after I've finished 1st year :P:P is it this? http://www.citibank.com/corpbank/wwss/agency/pf.htm ?? Future plans.....My grades average of 3 years must be +9/10 so tht I can apply for masters scholarships somewhere out of Albania(whr i am from) ^^

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2Wow....lucky you :):) I wish I can have the same luck ^^ How old r u?

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1actually i dont want to disclose my identity

sheg
 3 years ago
Best ResponseYou've already chosen the best response.1so nvr use my actual name on these kind of websites......sorry for that

angela210793
 3 years ago
Best ResponseYou've already chosen the best response.2Ok.....I'm sorry....
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