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.
If an increase in price causes a decrease in total revenue, then demand can be said to be elastic, since the increase in price has a large impact on quantity demanded. Different commodities may have different elasticity depending on whether people need them (necessities) or want them (accessories).Examples:o find the elasticity of demand using the mathematical explanation of the total revenue test, itâs necessary to use the following rule: If demand is elastic, , then: price and total revenue move in opposite directions. If demand is inelastic, , then: price and total revenue change in the same direction.