What Is Income Elasticity

Please read the article: http: //articles.latimes.com/2010/oct/01/business/la­fi­china­toilets­201010021) What is income elasticity? Give an example.2) How does income elasticity of demand explain what happened in China?3) What type of good can we call toilets?4) What would happen to the toilets if China experiences a recession?

Originally posted 2018-07-07 18:53:17. Republished by Blog Post Promoter

What is income elasticity

Please read the article: http://articles.latimes.com/2010/oct/01/business/la­fi­china­toilets­20101002
1) What is income elasticity? Give an example.
2) How does income elasticity of demand explain what happened in China?
3) What type of good can we call toilets?
4) What would happen to the toilets if China experiences a recession?