2 ms·
Gotta love these two sentences in that article: (when describing the model) Let ε<0 represent the elasticity of imports with respect to import prices... (when
by mizzao 2y ago
Gotta love these two sentences in that article:
(when describing the model)
Let ε<0 represent the elasticity of imports with respect to import prices...
(when implementing the model)
The price elasticity of import demand, ε, was set at 4.
4 is less than 0, right? Right?!?