Demand for Import Function

where M= quantity of import; hm = price elasticity of demand for import with hm<0 and £m = income elasticity of demand for imports; Y=home country's income; B=a constant.

Using the same procedure as in 23.2 and 23.3 we obtain:

where m = percent change in import quantity and y=percent change in home country's income.

Negotiating Essentials

Negotiating Essentials

Always wanted to get a better deal but didn't have the needed negotiation skills? Here are some of the best negotiation theories. The ability to negotiate is a skill which everyone should have. With the ability to negotiate you can take charge of your life, your finances and your destiny. If you feel that others are simply born with the skill to negotiate, you should know that everyone can learn this wonderful skill.

Get My Free Ebook

Post a comment