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.
Income elasticity of demand is an economics term that refers to the sensitivity of the quantity demanded for a certain product in response to a change in consumer incomes. The formula for calculating income elasticity of demand is: Income Elasticity of Demand = % change in quantity demanded / % change in income. For example, if the quantity demanded for a good increases for 15% in response to a 10%increase in income, the income elasticity of demand would be 15% / 10% = 1.5. The degree to which the quantity demanded for a good changes in response to a change in income depends on whether the good is a necessity or a luxury.