Cross-Price and Income Elasiticity of Food

From EconomicsHelp.org, an example of cross-price and income elasiticities of food.  The data comes from an interactive, query-able database of international food elasticities at the US Dept of Agriculture. By using these elasticities, we can estimate the impact(s) of food price increases. In times such as 2011, when international foodstuff commodities such as wheat, corn, … Continue reading Cross-Price and Income Elasiticity of Food