Friday, May 2, 2008

A good example of cross price elasticity of demand

From today's NT Times: In what automobile industry analysts are calling a first, about one in five vehicles sold in the United States was a compact or subcompact car during April, based on monthly sales data released Thursday. Almost a decade ago, when sport utility vehicles were at their peak of popularity, only one in every eight vehicles sold was a small car. Click here for full story.

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