YED
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Last updated 8:07 PM on 11/24/25
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4 Terms
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YED
Measures the responsiveness of demand to changes in income
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Formula
YED = Percentage change in quantity demanded / percentage change in income
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Positive YED
Normal good
As income rises quantity demanded rises
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Negative YED
Inferior good
As income rises quantity demanded falls
Luxury items
Note 
Flashcards (50)