May 03, 2008
Cross-Price Elasticity of Demand: Gas and Camels in India

This example has "Fall 2008 exam question" written all over it.

NB: The "cross-price elasticity of demand" meme in the blogosphere is from Pigou Club founder and Harvard economist Greg Mankiw, who periodically posts on news stories about how people change their consumption in the face of changing gas prices.

Posted by Art Carden at 12:59 PM in Economics

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