Her father is Robert Ellis Silberstein (Jewish). Her mother is Diana Ross (African-American).
If the cross price elasticity is positive, then we call such goods Substitutes (example: pizza and burgers -- you usually consume either or). The income elasticity of demand measures the change in the quantity demanded of some good, when the income changes, holding everything else constant.For example you can measure what happens to the demand for expensive red wine when income increases.f the cross price elasticity is positive, then we call such goods Substitutes (example: pizza and burgers -- you usually consume either or). The income elasticity of demand measures the change in the quantity demanded of some good, when the income changes, holding everything else constant.
In figure 3, the incomeâconsumption curve bends back on itself as with an increase income, the consumer demands more of X 2 and less of X 1. The incomeâconsumption curve in this case is negatively sloped and the income elasticity of demand will be negative.