Income Elasticity of Demand

This video shows how to calculate the Income Elasticity of Demand. Income Elasticity of Demand is founded by dividing the percentage change in quantity demanded by the percentage change in income. Thus, it measures how demand for a good changes as a consumer's income increases or decreases. If the Income Elasticity of Demand is positive, this means the good is a normal good (people demand more of the good as their incomes rise). If the Income Elasticity of Demand is negative, this means the good is an inferior good (people demand less of the good as their incomes rise).-
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[@NateOBrien]

If you don't mind me asking, what software do you use to draw? Thanks! - Nate

[@Edspira]

I use three things: SmoothDraw, Camtasia, and a Wacom Bamboo tablet

[@PB-wb2kj]

You calculated chocolate incorrectly.

[@MoonLight-fs6gl]

Gosh, this example with a clown being hit by car, hahahah

[@Edspira]

Glad you liked it!

[@meerrajjairaj8906]

Your videos helped me so much for my upcoming finals! Thank you :)

[@Edspira]

No problem - good luck on your finals!

[@arunt9205]

Why did you take the average for the denominators of Qd and I? Isn't percent change supposed to be (new-old)/old?

[@Bioluv193]

Thank you. I liked the details in the explanation

[@Fortify24]

awesome, thank you!

[@apisithwonglakorn6510]

Amazing tutoring!

[@Edspira]

Thanks Apisith!

[@MrSiloterio]

Poor clown got hit by a car 😂